American Youth Tilt Toward Socialism, Which Hardly Matters

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By Douglas A. McIntyre Published

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Young Americans have a more positive view of socialism than capitalism, according to new research from Pew. That puts them in contrast to the balance of adults, the great major of whom view socialism negatively. But younger Americans, those under 29, may have read the headlines about the future of Social Security and other social safety nets and believe these programs will be gone in two decades. That makes the results understandable.

The Pew research reports that, overall, only 31% of Americans have a positive view of socialism. And 50% view capitalism the same way. Capitalism gains further among the middle aged and those over 65. Some 72% of people who have passed the traditional age of retirement view socialism negatively. People who make over $100,000 a year have similar views to those over age 65.

The findings of the latest national survey by the Pew Research Center for the People & the Press, conducted from December 7 to December 11, 2011, among 1,521 adults, do not tell  much about why the young, as well as the relatively poor and minorities, have positive feelings about socialism. The answer is obvious, though. Capitalism has done almost nothing to help minorities and the relatively poor for many decades, if ever. Younger Americans are more often without jobs than they were five years ago, and they have become increasingly concerned about federal government support, both now and in the future.

The American form of government, which supports capitalism and almost always has, is very unlikely to change. One of the reasons is that those who object to it vote in small numbers. The other is that the top portion of society, both financially and in its political stance, have proven that it can stay in power indefinitely. The young can turn against that system, but in the final analysis it does not matter.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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