A recent Gallup poll has revealed a significant shift in Americans’ views on capitalism and socialism. The survey, conducted in August among over 1,000 adults nationwide, found that only 54% of respondents have a positive opinion of capitalism, the lowest figure since Gallup began tracking views on the system in the early 2010s. In contrast, support for socialism remains at 39%, with a notable increase in preference among Democratic voters.

The poll indicates that Republicans continue to strongly back capitalism, with 74% expressing support. However, among Democrats, approval for capitalism has slipped to 42%, lower than half for the first time. Conversely, Democratic support for socialism has climbed to 66%, up from 50% in 2010. Gallup notes that Democrats have consistently favored socialism over capitalism since 2016, and the gap continues to widen.

The survey also reveals a decline in Americans’ views of large corporations, with approval dropping from 58% in 2012 to a record low of 37% this year. Democrats, in particular, have expressed hostility toward Big Tech, Big Pharma, and other corporate sectors, with only 17% viewing them positively.

These shifts in opinion may explain the success of openly socialist-leaning politicians in the US, such as Senator Bernie Sanders, Representative Alexandria Ocasio-Cortez, and New York City mayoral candidate Zohran Mamdani. Mamdani, who has proposed publicly owned food markets to address supply problems, is running without establishment Democratic backing despite defeating former Mayor Andrew Cuomo in the party’s primary.

The changing attitudes towards capitalism and socialism in the US may have significant implications for the country’s political landscape. As Americans increasingly question the role of large corporations and the benefits of free enterprise, politicians who advocate for socialist policies may continue to gain traction. The Gallup poll suggests that this trend is likely to continue, with Democrats increasingly preferring socialism over capitalism.