Support for capitalism among U.S. voters has fallen below the 50% threshold for the first time in seven years, as reported by NBC News. This decline aligns with the increasing prominence of democratic socialist candidates like Zohran Mamdani, a contender for New York City mayor, within the Democratic Party.
According to the NBC poll, only 44% of registered voters currently view capitalism in a positive light, while 28% have a negative perception—a significant decrease from previous majorities. Among political demographics, two-thirds of Republicans still express support for capitalism, contrasted with 44% of independents and a mere 25% of Democrats. Interestingly, Democratic attitudes have shifted dramatically from being slightly positive in 2024 to a 20-point net negative this year.
Demographics also play a crucial role in this changing landscape. Younger voters and Hispanic communities have displayed growing skepticism toward capitalism, although their views on socialism have largely remained stable. Currently, just 18% of voters view socialism positively, with 49% maintaining a negative stance, although there is a notable trend of increased favorability among Democrats.
Mamdani, who identifies as a democratic socialist, has emerged as a significant figure alongside established leaders like Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez. Following his victory over former Governor Andrew Cuomo in the Democratic primary, Mamdani is now under national scrutiny. The NBC poll indicates that 22% of voters hold a favorable view of Mamdani, while 32% view him unfavorably, and one-third of respondents remain uncertain.
This shift in sentiment towards capitalism and the rising visibility of candidates like Mamdani suggest a growing appetite among voters for alternative economic frameworks. As discussions around socialism and its implications continue to evolve, the political landscape in the U.S. may see further shifts in the coming years, reflecting the changing priorities and values of the electorate.