2019 December BankNotes

The newfound openness of large numbers of Americans to socialism is, by now, a well documented phenomenon. According to a Gallup poll from earlier this year, 43% of Americans now believe that some form of socialism would be a good thing, in contrast to 51% who are still against it. A Harris poll found that four in ten Americans prefer socialism to capitalism. The trend is particular apparent in the young: another Gallup poll showed that as recently as 2010, 68% of people between 18 and 29 approved of capitalism, with only 51% approving of socialism, whereas in 2018, while the percentage among this age group favoring socialism was unchanged at 51%, those in favor of capitalism had dropped precipitously to 45%

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