Support in US for capitalism reaches record low but still above 50%: Gallup poll

Support for capitalism in the U.S. has reached a record low, according to a Gallup poll released Monday.

A total of 54% of U.S. adults said that they view capitalism positively, when asked to give a response “just off the top of your head,” which is down from 60% when the question was last asked in 2021, per the Gallup poll. Meanwhile, 57% of Americans view socialism negatively, compared to 39% who view it positively.

Since the question was first asked in 2010, Democrats' and independents' positive view of capitalism has declined each year. This year's survey is the first time that less than a majority of Democrats view capitalism positively, at 42%. A total of 51% of independents still view capitalism positively. The number of Republicans viewing capitalism positively has stayed roughly the same, at 74%.

Democrats are the only political group that views socialism more positively than capitalism, with 66% viewing socialism positively. A total of 38% of independents view socialism positively, compared to just 14% of Republicans.

The poll was conducted with 1,094 adults, Aug. 1-20, and its margin of error is 4 percentage points.