Support for capitalism in US drops to new low, poll finds. What about socialism?

Support for capitalism has slipped to a historic low in the U.S., even as a majority of Americans continue to favor it, according to the latest Gallup survey. Perceptions of socialism, on the other hand, have remained about steady.

At the same time, the share of Americans who favor big business has dropped significantly.

The results highlight deep partisan fissures: Republicans are considerably more supportive of capitalism and corporate America, according to the poll, compared with independents and Democrats, in particular.

The survey sampled 1,094 U.S. adults Aug. 1 to 20 and has a margin of error of plus or minus 4 percentage points. It is the seventh time Gallup has measured public opinion on economic systems since 2010.

Opinions on capitalism

In the poll, 54% of respondents said they have a positive view of capitalism, marking the lowest share on record.

In 2021, the last year the same question was asked, 60% of respondents said they held a favorable view of capitalism — which is characterized by private ownership of the means of production. Previously, this figure held steady around 60%.

The vast majority of Republicans, 74%, had a positive view of capitalism, up from 72% in 2021.

In contrast, favorability has dropped among Democrats and independents.

Forty-two percent of Democrats said they had a positive view of the economic system, down from 50% four years ago. And 51% of independents said the same, marking a decline from 59% in 2021.

Opinions on socialism

A smaller share of respondents, 39%, said they had a positive view of socialism. This is up just one percentage point from 2021. In the preceding years, views toward socialism — distinguished by collective ownership of the means of production — remained relatively unchanged.

Here, again, there were major partisan differences.

Two-thirds of Democrats said they had a positive view of socialism, up slightly from 65% in 2021.

In contrast, 38% of independents had a favorable view, down from 42% four years ago. And just 14% of GOP respondents said they had a positive view, though this increased from 10% in 2021.

Views on big business

The most noticeable shift came on the question of corporate America.

Thirty-seven percent of respondents said they held a positive view of big business, marking a record low. This represents a decrease of 9 points from 46% in 2021. In 2019, this figure stood at 52%.

Views toward big business have declined or remained about the same across the political spectrum.

Sixty percent of Republicans said they held a favorable view, down from 61% in 2021. Meanwhile, 36% of independents had a positive view, which marked a decrease from 46% in 2021. Democrats saw the biggest shift, with just 17% holding a favorable view, down from 34% four years ago.

Broader political context

The survey comes as a handful of Democratic socialist politicians — including Vermont Sen. Bernie Sanders and New York City mayoral candidate Zohran Mamdani — have claimed the national spotlight.

Sanders, an independent who twice ran for the president, has been traveling the country on his “Fighting Oligarchy” tour, during which he has spoken out against the influence of billionaires and advocated for Medicare for All, a national, single-payer healthcare system.

Mamdani, who won New York City’s Democratic primary in June, has called for fare-free city buses, universal public child care, city-owned grocery stores and tax increases on the wealthy.

President Donald Trump, meanwhile, has labeled Mamdani “a 100% Communist Lunatic,” writing on Truth Social, “we’ve had Radical Lefties before, but this is getting a little ridiculous.” He’s also described Sanders as “crazy.”

This story was originally published September 8, 2025 at 3:00 PM with the headline "Support for capitalism in US drops to new low, poll finds. What about socialism?."