In a striking shift reflecting growing economic unease, Americans' positive view of capitalism has dipped to an all-time low of 54% in 2025, according to a Gallup survey conducted August 1-20 and released in September. This marks the lowest rating since Gallup began tracking opinions on economic systems in 2010, down from 60% in 2021 and a peak of 61% in earlier years.
Meanwhile, views of socialism remain stable at 39% positive - unchanged over the past decade - but partisan divides have deepened dramatically. For the first time, fewer than half of Democrats (just 42%) hold a positive image of capitalism, while 66% favor socialism. Republicans stay staunchly pro-capitalism at 74%** (with only 14% positive on socialism), and independents lean modestly toward capitalism (51% vs. 38% for socialism).
Partisan Polarization and Generational Gaps
The decline is driven primarily by Democrats and independents, each dropping eight percentage points since 2021. Younger Democrats (under 50) are particularly skeptical of capitalism, viewing it less favorably than older counterparts.
Overall, Democrats are the only group preferring socialism over capitalism - a trend holding since 2016, amplified by prominent figures like Sen. Bernie Sanders, Rep. Alexandria Ocasio-Cortez, and New York mayoral candidate Zohran Mamdani, who advocate expanded government roles in addressing inequality.
Big Business Hits Rock Bottom
Compounding the narrative, positive ratings of big business plunged to 37% - a sharp fall from 46% in 2021 and a far cry from peaks above 50% in earlier decades.
Democrats rate big business abysmally low (17% positive), while Republicans are more favorable (60%). In contrast, small business enjoys near-universal acclaim at 95% positive, and free enterprise scores 81%.
Broader Context: Inequality and Distrust
This erosion aligns with persistent concerns over wealth concentration, corporate influence, and perceived unfairness in the system. While Americans retain affection for entrepreneurial aspects like small business and free enterprise, "capitalism" and "big business" evoke critiques of unchecked power and profit prioritization.
Gallup notes the gap between positive views of capitalism and socialism is now the narrowest on record. As economic pressures mount - inflation scars, housing affordability crises, and AI-driven job anxieties - these sentiments could influence policy debates, from antitrust reforms to progressive taxation.
Yet, outright embrace of socialism remains limited nationally. The data underscores a nuanced discontent: Americans want market freedoms but with stronger safeguards against excess. In a polarized era, capitalism's brand is tarnished - but far from abandoned.
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Author: Slava Vasipenok
Founder and CEO of QUASA (quasa.io) - Daily insights on Web3, AI, Crypto, and Freelance. Stay updated on finance, technology trends, and creator tools - with sources and real value.
Innovative entrepreneur with over 20 years of experience in IT, fintech, and blockchain. Specializes in decentralized solutions for freelancing, helping to overcome the barriers of traditional finance, especially in developing regions.
