According to a recent Gallup poll, Americans’ approval of capitalism has hit new lows, while support for socialism has experienced a slight uptick in recent years.
Only 54% of U.S. adults surveyed reported a positive view of capitalism, a decline from 60% just two years ago in 2021.
In contrast, support for socialism has edged up from 38% in 2021 to 39% this year.
The decline in favorable perceptions of capitalism is mostly driven by a drop among independent Democratic voters, while Republican support has remained fairly stable.
Support for capitalism among Democrats has decreased from 50% in 2021 to 42%, marking the first time this group’s approval has dipped below the 50% threshold.
Interestingly, the views of independents fell from 59% in 2021 to 51% in 2025.
On the other hand, approval among Republicans actually increased to 74% from 72% in 2021, though it’s still shy of the high of 78% recorded in 2019.
Gallup encouraged respondents to share their thoughts on capitalism “quickly,” aiming for a more instinctive response.
Historically, opinions on capitalism among Americans have remained relatively consistent. When the question was posed for the first time in 2010, 61% viewed it positively, and nearly a decade later, 60% maintained that perspective.
Regarding socialism, approval has risen from 36% in 2010 to 39% this year, bouncing around that range for the past 15 years.
This increase in support for socialism seems tied to figures like Sen. Bernie Sanders, Rep. Alexandria Ocasio-Cortez, and newcomer Zohran Mamdani, who have garnered a loyal following by criticizing economic inequality and “oligarchs.”
Gallup conducted the survey with 1,094 U.S. adults between August 1 and 20, yielding a margin of error of plus or minus 4 percentage points for the latest findings.
