The Washington Post reports on a survey indicating that a majority of millennials reject capitalism:
In an apparent rejection of the basic principles of the U.S. economy, a new poll shows that most young people do not support capitalism.
The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.
It isn’t clear that the young people in the poll would prefer some alternative system, though. Just 33 percent said they supported socialism. The survey had a margin of error of 2.4 percentage points.
The report goes on to say that it is difficult to interpret exactly what this data mean. It seems clear, however, that this represents a signficant shift. Taken together with the fact that Senator Bernie Sanders, an avowed socialist, has run a viable campaign for the Democratic nomination, it’s hard to avoid the conclusion that the ground is moving beneath our feet.
Albert Mohler comments on all this on his daily podcast “The Briefing.” You can download it here or listen below.
Mohler argues that many millennials are bereft of a basic economic worldview. They don’t like the way things are, but they don’t have a plan or view beyond that. Furthermore, there is a basic misunderstanding about what a free market economy is and how it operates. All of that adds up to rejection of capitalism on the one hand and to ad hoc government imposed solutions on the other.