For nearly two decades, Gallup has been gauging American views on prevalent economic concepts: small business, free enterprise, capitalism, socialism and big business.
While small business remains overwhelmingly popular at 95%, market-oriented concepts like big business and capitalism are seeing a steady decline especially among younger adults and political independents, according to their recent study.
Meanwhile, favorability in socialism has risen to 43%, up from 39% in 20205. Out of adults between the ages of 18 and 34, 57% view socialism more positively than capitalism, which is at 43%.
Dr. Os Guinness, author and social critics, spoke on the "Washington Watch" program.
“If you look at the rise of socialism, communism... what were they reacting to? The Industrial Revolution threw up two things, injustice and inequality,” Guinness. “Now, they did it in an extremely bad way. It was worse than the problem. But they're responding to a real problem.”
In a related story, AFN reported previously on the Gallup poll. In that story, columnist Robert Knight commented that this outcome is not surprising because public schools “have been churning out pro-socialist curricula for the last few decades while parents have been asleep.”
Furthermore, he said kids are ignorant to socialism’s real track record — misery and tyranny for the many, riches for the top few.
So, how does the nation course-correct?
Guinness says America must return to its first principles — what he calls a “true homecoming.”
“America's got to come home to its first principles and back to the Lord," he urged.
"The best way to guarantee freedom is through a republic," he continued. "The best way to ground a republic is through virtue, and the best way to generate and guard virtue is through faith. So, faith and freedom are connected.”
Meanwhile, many fans of socialism, Knight said, change their mind once the graduate college and get out into the real world — and realize the government wants a big slice of their paycheck.
“They have a new understanding of socialism as a confiscatory system backed by government power that takes from some and gives to others in the name of equality,” Knight commented.
