Only 53 Percent of Americans Support Capitalism

by Liberty and Power

We seem to be lurching backward at an ever faster rate. Despite the downfall of Communism, despite the horrors of statism in the twentieth century (most caused by self-described socialists), just over half of the population prefer capitalism over socialism. The level of support among young people is even lower.

Only 53% of American adults believe capitalism is better than socialism. The latest Rasmussen Reports national telephone survey found that 20% disagree and say socialism is better. Twenty-seven percent (27%) are not sure which is better. Adults under 30 are essentially evenly divided: 37% prefer capitalism, 33% socialism, and 30% are undecided. Thirty-somethings are a bit more supportive of the free-enterprise approach with 49% for capitalism and 26% for socialism. Adults over 40 strongly favor capitalism, and just 13% of those older Americans believe socialism is better. Investors by a 5-to-1 margin choose capitalism. As for those who do not.

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RL - 4/10/2009

Nice to know that the majority on the Social Security dole are firm supporters of capitalism...

Croley, Richard - 4/10/2009

I've been thinking that this is an opportune moment to raise awareness of libertarianism/classical liberalism. People I meet are extremely nervous about all the government intervention in the economy, the open discussion by government officials of private/public partnerships, the ongoing wars, etc.

I've been carrying around lists of Libertarian and Austrian School of Economics websites and blogs on pieces of paper. I give them to people who express an interest in learning more after I explain my own limited but growing understanding of these schools of thought.

William Marina - 4/9/2009

David,
Mark has a point.
In my lifetime most aspects of any meaningful free market culture have been oozing a away.
Most Americans are, ranging from outraged to depressed, about recent events.
Despite the continuing Media and other Spectacles which Empires have traditionally provided, one hopes Americans will begin a serious assessment of their situation.
As I observe the clowns Jay Leno interviews in his ongoing series, I am not, however, hopeful.

Mark Brady - 4/9/2009

I quote from the summary of the report to which you link.

"The question posed by Rasmussen Reports did not define either capitalism or socialism.

"It is interesting to compare the new results to an earlier survey in which 70% of Americans prefer a free-market economy. The fact that a 'free-market economy' attracts substantially more support than 'capitalism' may suggest some skepticism about whether capitalism in the United States today relies on free markets.

"Other survey data supports that notion. Rather than seeing large corporations as committed to free markets, two-out-of-three Americans believe that big government and big business often work together in ways that hurt consumers and investors.

"Fifteen percent (15%) of Americans say they prefer a government-managed economy, similar to the 20% support for socialism. Just 14% believe the federal government would do a better job running auto companies, and even fewer believe government would do a better job running financial firms."