In his 2016 survey for Harvard University’s Institute of Politics, 42% of younger Americans said they support capitalism, and only 19% identified themselves as capitalists. While this was a new question in his survey, the low percentage of young people embracing capitalism surprised him. He had come here, in part, to better understand why.
“Maybe it had to do with the ‘American Dream,’ and how capitalism was correlated with it, but a lot of young people don’t believe in it anymore,” said Ana Garcia, a junior at the Elon event. “We don’t trust capitalism because we don’t see ourselves getting ahead.”
Largely because of such millennials, generally those born in the 1980s and 1990s, socialism has moved from being a taboo because of its associations with the Cold War to something that has found rising appeal among those polled by Harvard and in other surveys that compared different generations.