According to a new poll, just 54% of Americans view capitalism favorably

A new Gallup survey shows that Americans’ approval of capitalism has plunged to a record low, reflecting growing unease with inflation and the state of the economy.

Just 54% of adults have a positive opinion of capitalism, the smallest share since the group started conducting the survey 15 years ago.

In 2010, roughly 60% of people viewed capitalism positively. The number stayed somewhat consistent through 2021.

By contrast, 39% hold favorable views of socialism, a figure largely unchanged since 2010.

Despite the skepticism, Americans believe that not all capitalism is bad. The majority of respondents said they favor small businesses, and more than 80% said they supported free enterprise.

For the first time, fewer than half of Democrats view capitalism positively, with 42% supporting it versus 74% of Republicans.

Democrats also rate socialism more favorably than capitalism, a shift influenced by progressive leaders advocating expanded government roles. 

Views on big business have plunged, especially among Democrats, with only 17% expressing support compared to 60% of Republicans. 

The data comes as the country faces declining consumer sentiment, rising unemployment, and a tough job market.

Another poll found 70% of adults lack faith in the American dream, signaling widespread economic disillusionment.