A new Gallup poll finds Americans’ approval of capitalism has fallen to a record low while a modestly larger share expresses a positive view of socialism.
Only 54% of U.S. adults surveyed said they have a positive image of capitalism, the lowest level Gallup has recorded since it began asking the question 15 years ago. Support for socialism rose slightly to 39% in 2025, up from 38% in 2021, though a majority of respondents — 57% — still view socialism negatively.
The decline in positive views of capitalism was concentrated among Democrats and Independents. Democratic adults saying they have a positive view of capitalism declined from 50% in 2021 to 42% in 2025, the first time the group's approval has fallen below 50%. Independents’ favorable views dropped from 59% in 2021 to 51% in 2025. Republican support remained stronger and rose modestly, from 72% in 2021 to 74% in 2025, though that is below the 78% high Gallup recorded for Republicans in 2019.
Gallup collected responses from 1,094 U.S. adults between Aug. 1 and Aug. 20, 2025, with a margin of error of plus or minus four percentage points. The survey asked respondents for their immediate impressions of capitalism and socialism "just off the top of your head," a phrasing Gallup has used in past iterations of the question.
Gallup first asked about capitalism in 2010, when 61% of adults reported a favorable view, and it remained near that level for much of the following decade. By contrast, favorable views of socialism have been low but slightly higher than in 2010, rising from 36% then to 39% in 2025.
The modest uptick in openness to socialism has coincided with the increased visibility of progressive politicians who identify with or are allied to democratic socialism, including Sen. Bernie Sanders (I-Vt.), Rep. Alexandria Ocasio-Cortez (D-N.Y.), and other left-leaning figures. These politicians have made economic inequality and criticism of concentrated wealth central themes of their appeals to voters.
Analysts and political strategists have noted the partisan dynamics implied by the poll: the erosion of capitalism's favorable image among Democrats and Independents narrows ideological distance on economic attitudes within the electorate, while Republicans’ steady support for capitalism underscores its continued salience in conservative messaging.
Gallup's results underscore a shift in public sentiment over the past several years but also show that strong majorities do not embrace socialism. The long-term trend since Gallup began asking the questions shows relative stability in public opinion until the recent decline in favorable views of capitalism and the small rise in positive perceptions of socialism.
The poll’s findings are likely to figure in political debates over economic policy as parties and candidates frame proposals on taxation, regulation and social programs ahead of the 2026 election cycle. Gallup’s methodology and phrasing of the questions limit the survey to measuring overall impressions rather than detailed policy preferences; nonetheless, the poll captures broad attitudinal shifts that could influence messaging and voter outreach into the next election year.