Americans, including many Republicans, are losing faith in capitalism, polling shows

Recent polling data indicates a notable decline in Americans' positive perceptions of capitalism. A Gallup poll from August 2025 revealed that 54% of U.S. adults view capitalism favorably, marking the lowest level recorded by Gallup to date and a decrease from 60% in 2021. Similarly, a Fox News survey conducted in July 2026 found that only 50% of voters hold a positive view of capitalism, down from 57% in 2019. These trends suggest a growing disillusionment with the economic system across the country.

While Republicans generally maintain a more positive view of capitalism, with 74% expressing favorable opinions in the 2025 Gallup poll, this sentiment is not without nuance. Data from 2025 and 2026 shows that Republican support for "big business" has declined, indicating some concerns even within this traditionally pro-capitalist demographic. Overall, the drop in positive views of capitalism has been significantly driven by Democrats and independents.

This shift in public opinion extends to broader economic perceptions, with a June 2026 Wall Street Journal/NORC poll revealing that 51% of Americans believe capitalism is performing "not too well" or "not at all well." The same poll highlighted a weakening belief in the "American dream," as only 35% of respondents felt that hard work consistently leads to advancement. Despite these declining views of "capitalism" as a broad term, Americans largely retain overwhelmingly positive attitudes toward "free enterprise" and "small business."