A new Gallup poll shows that while Americans have grown less enthusiastic about capitalism, their view of socialism has remained steady—and largely negative.
By contrast, 39 percent said they viewed socialism positively, up slightly from the lows of 2016 and on par with the levels recorded in 2012 and 2019.
Beneath that stability lies a sharp partisan split.
Democrats have steadily warmed to socialism since Gallup first asked the question in 2010, when about half expressed a favorable opinion. Today, roughly two-thirds do.
Republicans have moved in the opposite direction, with positive ratings of socialism shrinking to just 14 percent, while independents have held relatively steady over time.
In the latest survey, Democrats are the only partisan group of the three that views socialism more positively than capitalism—66% to 42%, respectively. Independents are modestly more pro-capitalism than pro-socialism (51% vs. 38%), while Republicans are overwhelmingly so (74% vs. 14%).
“Democrats’ more positive views of socialism occur at a time when many high-profile Democratic officials—most notably, Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-NY), as well as New York City mayoral candidate Zohran Mamdani—have identified themselves as Democratic socialists and advocated policies calling for a significantly expanded government role in economic matters,” Jeffrey Jones, Gallup Senior Editor, wrote in an analysis of the results.
Capitalism, meanwhile, slipped to its weakest showing in the poll’s 15-year history. Fifty-four percent of Americans said they had a favorable view of capitalism, down from 60 percent in 2021 and the lowest reading since Gallup began tracking the measure in 2010. Forty-two percent expressed a negative view, the highest on record.
The decline in support for capitalism is driven largely by Democrats and independents. Only 42 percent of Democrats now rate capitalism positively, a record low, while just over half of independents—51 percent—still do. Republicans remain broadly supportive, with nearly three in four holding a favorable view.
Even with capitalism’s image dimming, the overall picture is clear: Americans remain far more skeptical of socialism, which has consistently drawn majority opposition across the Gallup trend.
Beyond the broad labels of capitalism and socialism, the survey also explored which parts of the economic system Americans trust most, and which they don’t.
Small business remains the nation’s most beloved economic institution, with the poll finding an overwhelming 95 percent of Americans holding a positive view. Free enterprise also fared well, with 81 percent positive.
Big business sits at the bottom of the list, with only 37 percent rating it positively—two points below socialism.
The hierarchy suggests that Americans tend to embrace entrepreneurship, local firms, and the principle of competitive markets, while approaching both large corporations and government ownership with greater suspicion.
Gallup conducted the survey from Aug. 1 to Aug. 20 among a random sample of 1,094 adults. The results carry a margin of error of plus or minus four percentage points.
