Premium

Why Can't Johnny Analyze Basic Economics?

AP Photo

I was standing in a line outside a polling station in a college neighborhood (actually at the college) once upon a time.   Two college-age guys were standing behind me, chattering merrily away.  

"Who are you voting for?" one asked the other. 

"I don't know.  I'm kind of torn between the Libertarians and the Socialists". 

On the one hand, I thought, those are mostly diametrically divergent beliefs ("mostly" because orthodox Libertarians don't care about secure borders any more than Joe Biden did).  

On the other, I thought ... College kids.   Sheesh.  

I say this by way of reminding the world that most people spend most of their lives regretting the things they were absolutely positively sure about in their teens and twenties, and that maybe, just maybe, not everything that's wrong with the current younger generation is the fault of a collapsing school system.. 

That being said,  Someone's gotta have a word with the kids.  

Recent polling shows young Democrats really, really hate "Capitalism" - but strongly approve of free markets:

And Ilya Somin at Reason points out that this is not just random demographic noise, either:

A recent Echelon Insights poll finds that the "free market economy" is more popular than "capitalism." 53% of respondents say they have a "very" or "somewhat" favorable view of the former, while only 12% have an very or somewhat unfavorable view. By contrast, "capitalism" is viewed very or somewhat favorably by 49%, while the two unfavorable categories combine for 29% (more than the double percentage for "free market economy").

Other polls show similar results. For example, a recent Gallup survey finds 54% have a positive  view of "capitalism," but 81% say the same of "free enterprise." A December 2025 Napolitan News Service poll conducted by prominent conservative pollster Scott Rasmussen found 64% of respondents have a favorable view of the "free market," but only 53% say that of "capitalism." A Reason-Rupe poll reached a similar result back in 2015. In Echelon and some other polls, "capitalism" polls unusually badly among younger people, while "free market" mostly does not.

Now, you could point out that part of the problem is rhetorical - the Marxists have spent the past century and a half turning "capitalism" into a dirty word, and words matter:

And if you actually are a free-marketeer, you can easily point to some problems in the way things have been practiced recently:

And there might be some good news tucked in between the nervous chuckling:

 As  Somin points out, it's probably something to take into consideration if you are (glances around the Hot Air newsroom) given to evangelizing:

In a better world, people's reactions to ideas should not be so susceptible to variations in wording. But in the world we actually live in, libertarians and other free market advocates (notice I did not say "capitalism advocates"!) should take note. As much as possible, we should use "free market" and similar wording (e.g. - "free enterprise"), while abjuring "capitalism." I myself have largely been following that practice for many years. I urge others to do the same.

I mean, it's some hope...

Trending on HotAir Videos

Advertisement
Advertisement
Advertisement
Advertisement