Common Dreams - October 28, 2019

"Millennials have come of age during an era in which under-regulated capitalism nearly destroyed the global economy and those people were bailed out and nobody went to jail. I'm surprised the support for socialism isn't higher."
—Oliver Willis, Shareblue

A survey released Monday revealed that 70 percent of U.S. millennials—those between the ages of 23 and 38 in 2019—would support a socialist candidate for president, a result which a number of progressives viewed as an outgrowth of the damage wrought in recent decades by neoliberal capitalism and the ruling corporate order.

Among those slightly younger, voters between the ages of 16 and 22, the sentiment was almost as high with nearly two-thirds of Generation Z saying the same.

The poll was taken by YouGov and paid for by the Victims of Communism Memorial Foundation (VOC), which surveyed 2,100 people about their views of capitalism and the U.S. economic system, socialism, and inequality in the United States.

Half of millennials and 51 percent of Generation Z respondents reported negative views of capitalism while the two groups had more favorable views of the term "socialism" than the Generation X, Baby Boomers, and Silent Generation members—people born roughly between 1925 and 1980—who answered the poll.

The survey was released five months after a Gallup poll revealed that 43 percent of Americans embrace some form of socialism.

Some progressives on social media said the difference in opinion regarding the two economic models was no surprise considering the state of capitalism in the United States over the past several decades.

Millions of millennials were in the early years of adulthood when the subprime lending practices used by powerful Wall Street firms contributed to the 2008 economic meltdown and the Great Recession, while about 15 million student loan borrowers between the ages of 25 and 34 owe a total of $497 billion in student debt.

Millennials and Generation Z have also entered adulthood in a time when 53 percent of Americans face medical debt and problems paying medical bills—including people who have health insurance through the for-profit health insurance industry.

Considering the damage the U.S. capitalist system has done to millions of families during their lifetime, wrote Oliver Willis of Shareblue, "I'm surprised the support for socialism isn't higher." ...
Read full report at Common Dreams