According to a survey conducted by the Institute of Economic Affairs (IEA) in the UK, young people reject the free market ideas of capitalism. They have positive views on socialism, despite the remarkable failures experienced in the countries where it was implemented, Breitbart reported.

The research reveals that of Millennials and Generation Z in the UK, 67% would prefer a socialist government, and 75% agree that “socialism is a good idea, but it has failed in the past because it has been done badly.”

“The truism that ‘real socialism has never been tried’ is not just a truism, it is also the majority view among Millennials and Zoomers,” the report titled “Left turn?” noted.

It also mentions that younger people associate the term “socialist” with positive terms such as “workers,” “public,” “egalitarian,” and “fair,” and that very few associate it with the term “failure,” although in the previous century socialist governments led to economic devastation, mass starvation, and genocide.

In this respect, the report points out that of the younger generation, no one associates it with Venezuela, naming it the former showcase of ’21st century socialism’, which evidences one of the worst crises in the country and the most significant exodus in Latin American history. While capitalism is associated with terms such as ‘exploitative,’ ‘unjust,’ ‘the rich,’ and ‘corporations.’

Dr. Kristian Niemietz, the author of the report and director of Political Economy at the IEA, warned that its findings show that “millennial socialism” is not just a social media hype. Nor is it simply a repeat of the student radicalism of the 1960s, he said, as a phase that young people have always gone through, warning that it will not disappear soon and on its own.

His insights are based on the fact that the survey results found little difference in mindset between Millennials, born between the 1980s and mid-1990s, and Generation Z, also known as the Zoomers, born between the mid-1990s and early 2010s. 

Data from a survey conducted between February and March 2021 by Forefront Market Research, which polled nearly 2,000 people aged 16–34 in the UK, also found that:

  • 75% agree that climate change is a specifically capitalist problem despite the fact that Communist China exceeds all capitalist countries’ pollution.
  • 78% blame capitalism for the British housing crisis.
  • 72% support the nationalization of various industries such as energy, water, and railways, following the narrative of socialist ideology, increasing state involvement until all the means of production in the country are taken over.
  • 72% believe that the involvement of the private sector would put the National Health Service at risk.

From the earliest ages, leftist ideology has silently managed to insert itself into education, and in all areas, encompassing multiple facets, from gender ideology, climate change, cultural revisionism, racism, feminism, and all kinds of topics that promote in young people the idea that socialism proposes equality and prosperity. 

But as Kristian Niemietz argues, none of the survey results mean that supporters of capitalism should give up and give in, let alone accept that the future belongs to socialism. 

On the contrary, he stresses that they should take ‘millennial socialism’ much more seriously, rather than dismiss it or deny that it exists and treat it as a challenge.

“We need to get better at making the positive case for capitalism, developing market-based policy solutions to the problems young people are facing, as well as explaining why socialism, seductive though it may be, is always and everywhere a dead end,” Niemietz concludes.