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Capitalism vs. Socialism: A Closer Look at Young Voters’ Perspectives



In a recent opinion piece, New York Assemblymember Zohran Mamdani argued that young Americans are increasingly drawn to socialism, a claim that has sparked debate about the economic systems shaping the future. The article, published by Deseret News, suggests that dissatisfaction with capitalism’s outcomes—rising inequality, stagnant wages, and unaffordable housing—has fueled this shift. But is socialism truly gaining ground, or is this a misreading of young voters’ frustrations? Mamdani points to polls showing that a significant portion of Gen Z and Millennials view socialism favorably, often associating it with policies like universal healthcare, free college, and wealth taxes. He argues that these voters see capitalism as failing to deliver opportunity, citing skyrocketing costs and corporate monopolies. Yet, critics counter that socialism’s appeal may be more about dissatisfaction with the status quo than a coherent embrace of centralized economic control. Many young Americans, they argue, aren’t advocating for state-run industries but for reforms to address capitalism’s excesses—think antitrust laws or stronger labor protections. Data paints a mixed picture. A 2023 Gallup poll found 49% of Gen Z and 46% of Millennials view socialism positively, but capitalism still enjoys broader support, with 60% of Americans overall favoring it. The nuance lies in definitions: for many young people, “socialism” means Scandinavian-style welfare systems, not Soviet-era policies. Meanwhile, capitalism’s defenders highlight its role in driving innovation and prosperity, pointing to the U.S.’s global economic dominance and technological advancements. The debate isn’t just academic. Young voters’ preferences could shape policy as their political influence grows. Mamdani’s call for socialist policies—like nationalizing industries or redistributing wealth—may resonate with some, but others see targeted reforms, like expanding access to education or healthcare, as better balancing fairness and innovation. The challenge lies in addressing legitimate grievances without dismissing the strengths of a market-driven system. As 2025 unfolds, the conversation around capitalism and socialism will likely intensify. Young Americans aren’t rejecting markets outright—they’re demanding a system that works for them. Whether that leads to a reimagined capitalism or a flirtation with socialism remains an open question.

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