Posted on Apr 27, 2016
A majority of millennials now reject capitalism, poll shows
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There's a lot of great information in this recent poll but some key takeaways are:
Of those 18-29, "...51 percent of respondents do not support capitalism. Just 42 percent said they support it... Just 33 percent said they supported socialism."
"For those who grew up during the Cold War, capitalism meant freedom from the Soviet Union and other totalitarian regimes. For those who grew up more recently, capitalism has meant a financial crisis from which the global economy still hasn't completely recovered."
"Only among respondents at least 50 years old was the majority in support of capitalism."
Of those 18-29, "...51 percent of respondents do not support capitalism. Just 42 percent said they support it... Just 33 percent said they supported socialism."
"For those who grew up during the Cold War, capitalism meant freedom from the Soviet Union and other totalitarian regimes. For those who grew up more recently, capitalism has meant a financial crisis from which the global economy still hasn't completely recovered."
"Only among respondents at least 50 years old was the majority in support of capitalism."
A majority of millennials now reject capitalism, poll shows
Posted from washingtonpost.comPosted in these groups: 
Millennials
Economy
Millennials Economy
Posted >1 y ago
Responses: 3
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Funny. A bunch of people who watched many people lose their livelihoods, many more lose significant wealth, then watched a so-called "recovery" with no jobs or prosperity forthcoming, all while the very richest got richer...hmmm...I wonder why they might be turned off by that system?
We are a nation that idealizes and idolizes wealth, and vilifies poverty, notwithstanding the social and political structures that have made it more difficult, rather than less, move up in socioeconomic status. Does our educational system enable our kids to go out and earn wealth? Do our social systems really value hard work? Do we really have the most fair and equitable legal system we could have, viz-a-viz minorities?
The knee-jerk answer is that all "Millennials" want something for nothing. As the parent of three hard working adults, and "responsible adult" (HOW in the WORLD did that happen?) who is a part of the lives of many many more, it seems to me that they have it harder, not easier than I did, and I grew up in public housing.
Does poverty have a personal component? OF COURSE!! But individuals took a chance on me, and because of that, I was able to associate with people outside my SES and learn the skills and attitudes required to move on up. Are we creating a society that preys on the impoverished, or one that enables them to move on up?
I'd argue the former.
We are a nation that idealizes and idolizes wealth, and vilifies poverty, notwithstanding the social and political structures that have made it more difficult, rather than less, move up in socioeconomic status. Does our educational system enable our kids to go out and earn wealth? Do our social systems really value hard work? Do we really have the most fair and equitable legal system we could have, viz-a-viz minorities?
The knee-jerk answer is that all "Millennials" want something for nothing. As the parent of three hard working adults, and "responsible adult" (HOW in the WORLD did that happen?) who is a part of the lives of many many more, it seems to me that they have it harder, not easier than I did, and I grew up in public housing.
Does poverty have a personal component? OF COURSE!! But individuals took a chance on me, and because of that, I was able to associate with people outside my SES and learn the skills and attitudes required to move on up. Are we creating a society that preys on the impoverished, or one that enables them to move on up?
I'd argue the former.
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I think the biggest problem is that many younger generations do not fully understand the concept of capitalism. The exposure of capitalism in the media that they usually read is usually negative (Martin Shkreli and Diaprim). It is shown throughout history though that that all types of economic systems if exploited can lead to negative results.
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