Source: Foundation for Economic Education
by Lika Kobeshavidze
“Across college campuses, on TikTok feeds, and in everyday conversations, a familiar narrative is gaining steam: capitalism is broken. Rising rents and stagnant wages fuel the claim among some young people that free markets have failed an entire generation. According to a 2024 poll by the Institute of Economic Affairs, more than 60% of young Britons now view socialism favorably. In the United States, the trend is similar, with Generation Z increasingly skeptical of capitalism’s promises. But much of this idealism is rooted in distance — many of the young people romanticizing socialism have never lived through the economic dysfunction or political repression it often brings.” (05/17/25)