The latest Rasmussen Reports national phone survey finds that only 53 percent of Americans now find capitalism to be superior to socialism.
And a hefty 20 percent prefer socialism. The remaining 27 percent are unsure.
It probably won’t surprise you that youth preferences tend more toward socialism than those of their elders, as in general, the younger you are, the more liberal you are.
Of those over 18 and under 30, a small plurality, 37 percent, like free enterprise best, and 33 percent prefer government control.
The numbers shift toward capitalism for those in their 30s: 49 percent favor it, while 26 percent go for socialism.
For those over 40, the numbers are skewed even more toward capitalism, with only 13 percent opting for socialism.
As you might expect, investors in financial markets support open markets by a 5-to-1 margin. Even among those who don’t invest, 40 percent go for capitalism, and 25 percent for capitalism.
The party breakdown shouldn’t shock you either. Republicans believe in capitalism by an 11-to-1 count. But among Democrats, 39 percent vote capitalism, and 30 percent vote socialism.
Independents opt for capitalism by a 2-to-1 margin.
Former Reagan speechwriter Peggy Noonan, citing the philosopher Michael Novak, points out in a blog on WSJ.com that free markets and ethics can go hand in hand. Business’ ethical lapses, of course, are part of what has created some negativity toward capitalism.
Noonan includes the following quote from Novak: "The calling of business is to support the reality and reputation of capitalism."
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