Majority of young adults in US hold negative view of capitalism: poll

A growing majority of young adults in the U.S. have a more negative view of capitalism, according to a new survey from Axios and Momentive. 

Fifty-four percent of Gen Z adults said they had a negative view of capitalism, while 42 reported having a positive view, according to the poll.

The number of 18- to 34-year-olds who have a positive view of capitalism also appears to be shrinking.

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Forty-nine percent said they had a positive view of capitalism and 46 percent said they viewed it negatively, according to the poll. But two years ago, 58 percent said they viewed it positively, while 38 percent said they viewed it negatively. 

The number of young Republicans with a favorable view of capitalism has also dropped from 81 percent in 2019 to 66 percent in the latest poll. 

Overall, 57 percent of Americans said they had a positive view of capitalism and 36 percent said they had a negative view. 

The survey also showed shifting views on socialism.

Overall, 41 percent of respondents said they had a positive view of socialism and 54 percent said they had a negative view. Fifty-one percent of young Americans said they had a positive view of socialism, down from 55 percent in 2019.

The findings come as the debate over socialism and capitalism has infiltrated the campaign world, with Republicans labeling their Democratic opponents as radical and socialist. Progressive Democrats, on the other hand, have invoked capitalism to attack Republicans and some moderate Democrats. 

The Axios and Momentive poll was conducted June 11-15 among 2,309 U.S. adults.