A new NBC News poll shows capitalism slipping below 50 percent approval among voters for the first time since the network began tracking the question. The drop comes as Democrats grow increasingly positive toward socialism and figures like New York’s Zohran Mamdani gain national prominence.
“The share of registered voters with positive views of capitalism has dropped under 50% for the first time in seven years of NBC News polling on the issue,” the report said, “a shift that comes as some democratic socialists, like New York mayoral hopeful Zohran Mamdani, gain prominence in the Democratic Party.”
The poll, conducted October 24–28 among 1,000 registered voters, found 44 percent of Americans now have a positive view of capitalism and 28 percent a negative one. Two-thirds of Republicans still support capitalism, compared to 44 percent of independents and only 25 percent of Democrats.
Among Democrats, views have flipped in just one year. In 2024, 39 percent viewed capitalism positively and 34 percent negatively. Now, Democrats show a 20-point net negative, with younger and Hispanic voters also moving away from capitalism.
While socialism remains unpopular nationwide, with 49 percent viewing it negatively and 18 percent positively, Democrats’ attitudes have shifted the other way.
“Last September, 34 percent of Democrats viewed socialism positively and 29 percent viewed it negatively. Now, 35 percent view it positively and only 20 percent negatively,” NBC reported.
The rise coincides with Mamdani’s growing national profile. The New York mayoral candidate describes himself as a democratic socialist inspired by Martin Luther King Jr.’s call for a fairer distribution of wealth.
“Call it democracy, or call it democratic socialism,” Mamdani said on Meet the Press. “There has to be a better distribution of wealth for all of God’s children in this country.”
According to the poll, 22 percent of voters view Mamdani favorably and 32 percent unfavorably, though he is far better known among Democrats.
Socialism remains deeply unpopular overall, yet its growing foothold inside the Democratic Party signals a wider ideological shift. The question now is whether the rest of America will follow or resist.
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