Support for capitalism among U.S. voters has dropped below 50% for the first time in seven years, according to NBC News. The decline comes as democratic socialist candidates like New York mayoral contender Zohran Mamdani gain national attention within the Democratic Party.
The NBC poll found that 44% of registered voters view capitalism positively, while 28% view it negatively — a sharp decline from past majorities. Two-thirds of Republicans still back capitalism, compared to 44% of independents and 25% of Democrats. Among Democrats, views have flipped from slightly positive in 2024 to a 20-point net negative this year.
Younger and Hispanic voters have also grown more skeptical of capitalism, though views on socialism remain largely unchanged. Eighteen percent of voters view socialism positively and 49% negatively, with Democrats showing the largest shift toward favorability.
Mamdani, a self-described democratic socialist, has gained visibility alongside Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez. After defeating former Governor Andrew Cuomo in the Democratic primary, he now faces mounting national scrutiny. The NBC poll shows 22% of voters view Mamdani favorably, 32% unfavorably, and one-third are unsure. The survey of 1,000 voters was conducted Oct. 24–28 and has a margin of error of 3.1 percentage points.
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