The share of registered voters holding a positive view of capitalism has dropped below 50% for the first time in seven years of NBC News polling on the issue, a shift occurring as democratic socialists like New York mayoral hopeful Zohran Mamdani gain prominence within the Democratic Party.
Overall, 44% of registered voters now report a positive view of capitalism. In comparison, 28% view it negatively, marking a notable dip from prior polls that showed slim majorities viewing the economic system positively.
The poll highlights a partisan difference in views on capitalism. Two-thirds of Republicans view capitalism positively, compared to 44% of independents and just 25% of Democrats. Conversely, 45% of Democrats now view it negatively, compared to 28% of independents and 12% of Republicans.
This represents a significant change among Democrats. In September 2024, 39% of Democrats viewed capitalism positively and 34% negatively (a 5-point net-positive rating). Today, that rating has swung to a 20-point net-negative among Democrats.
Voters under the age of 35 and Hispanic voters have also heavily swung toward more negative views of capitalism over the last year, with the latter group now effectively split on the economic system.
In contrast to capitalism, views of socialism have remained more stable. Currently, 49% of registered voters view it negatively—a slight decline from past measurements (50% to 55%), and 18% view it positively, consistent with past polls since 2018.
However, the trend among Democrats is moving in the reverse direction of their views on capitalism. Now, 35% of Democrats view socialism positively and 20% view it negatively. Last September, a similar 34% viewed it positively, but 29% viewed it negatively.
The evolving views on capitalism and socialism, particularly among Democrats, come as self-described democratic socialists, including Senator Bernie Sanders (I-Vt.), Representative Alexandria Ocasio-Cortez (D-N.Y.), and Mamdani, increase their influence and command a vocal constituency within the party.
Mamdani in the National Spotlight
Zohran Mamdani, who is running for a municipal post in the nation’s largest city, has attracted national attention. His campaign’s prominence means that roughly two-thirds of registered voters nationally feel they know enough about him to register an opinion. RELATED: NYC Mayoral Race Shocker: Gun-Ban Crusader Mamdani Exposed Waving Pistol In Violent Rap Video
Mamdani is viewed positively by 22% of registered voters and negatively by 32%. Among Democrats, he fares much better, with 44% viewing him positively and 10% negatively.
Mamdani’s democratic socialist identity has been a key factor in his campaign. He has cited Dr. Martin Luther King Jr.’s words: “Call it democracy, or call it democratic socialism, there has to be a better distribution of wealth for all of God’s children in this country.”
His opponent, former Democratic governor Andrew Cuomo, has warned that Mamdani’s policies would bankrupt the city.
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