Americans’ positive view of capitalism falls, while thoughts on socialism rise

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00:00At a time when political issues and races are red hot, a new poll shows the popularity of capitalism

00:05falling to its lowest level in 15 years, while socialism is ticking upward.

00:11The vastly different economic and social views are largely driven by party affiliation.

00:19The new Gallup poll of about 1,100 adults finds just 54 percent overall

00:25now say they have a positive view of capitalism, down from 61 percent in 2010.

00:32Meanwhile, favorable views of socialism have inched up from 36 percent to 39 percent over that same period.

00:40Republicans view capitalism much more favorably than Democrats, by a 74 percent to 42 percent margin.

00:47It is the first time in Gallup polling that Democratic favorable views of capitalism have dropped below half.

00:53Democrats view socialism more favorably than capitalism, by a wide 66 percent to 42 percent margin,

01:01while only 14 percent of Republicans have a positive view of socialism.

01:06The poll comes as prominent Democrats who identify as Democratic socialists,

01:11including New York City mayoral candidate Zoran Mamdami,

01:15Congresswoman Alexandria Ocasio-Cortez, and Senator Bernie Sanders, have been in the spotlight.

01:20Their platforms have included proposals like government-run grocery stores and free public busing.

01:26Mamdami is leading in New York polls,

01:29while Sanders and Ocasio-Cortez drew large crowds this spring during Sanders' Fighting Oligarchy tour.

01:36Gallup finds that age plays a major role within the Democratic Party.

01:40Among Democrats under 50, only 31 percent have a positive image of capitalism,

01:46compared to about half of Democrats 50 and older.

01:48Americans' opinions of economic fairness also appear to be changing.

01:53Just 37 percent of respondents overall have a positive view of big business,

01:58while opinions on small businesses and free enterprise continue to earn overwhelming support.

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