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News > World

Majority of US Millennials Reject Capitalism

  • Millennial are rejecting capitalism.

    Millennial are rejecting capitalism. | Photo: EFE

Published 26 April 2016

A recent poll found that most young people in the U.S. view the capitalist system as unfavorable.

Young people in the U.S. are increasingly rejecting capitalism.


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According to a recent survey conducted by Harvard University, 51 percent of respondents between the ages of 18 and 29 do not support capitalism. Only 42 percent said they were in favor of the current economic system.

Thirty-three percent of surveyors say they support socialism.

In a related survey conducted among people of all ages, older people in the U.S. are also hesitant about capitalism. Only among respondents who are at least 50-years-old are the majority in support of capitalism.

This recent survey highlights a growing trend that shows young people are frustrated with capitalism. In 2011, the Pew Research Center found that almost half of the people polled were dismayed with the free-market system.

The Harvard poll also sought opinions on whether the the government should play a role in the economy. Here, only 27 percent of people said the government should play a large part in regulating and only 30 percent believe the state should play a large role in reducing income inequality.


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Frank Newport, the editor-in-chief of Gallup, said in the Washington Post when asked about the new data, "Young people could be saying that there are problems with capitalism, contradictions. I certainly don't know what’s going through their heads."

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