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Illustration: Sarah Grillo/Axios

Just half of younger Americans now hold a positive view of capitalism — and socialism's appeal in the U.S. continues to grow, driven by Black Americans and women, according to a new Axios/Momentive poll.

Why it matters: The pandemic has caused millions of Americans — including many younger Republicans — to re-evaluate their political and economic worldview. That's likely because of two factors: a renewed focus on deep societal inequalities and the tangible upsides of unprecedented levels of government intervention.

  • "The pandemic is sure to have lasting impact for decades to come," said Jon Cohen, the chief research officer for Momentive (formerly SurveyMonkey).

The intrigue: Shifts are happening on the right as well as the left, at least among those under 35.

  • Just 66% of Republicans and GOP-leaners ages 18-34 have a positive view of capitalism, down from 81% in January 2019, when we first polled on these questions.
  • 56% of younger Republicans say the government should pursue policies that reduce the wealth gap, up from just 40% two years ago.

By the numbers: In 2019, 58% of Americans ages 18-34 reacted positively to the word capitalism. That's plunged to 49% today.

  • Back then, 39% of all U.S. adults viewed socialism positively. That has since ticked up to 41%.
  • Socialism has positive connotations for 60% of Black Americans, 45% of American women and 33% of non-white Republicans. Those numbers have grown over the past two years from 53%, 41% and 27%, respectively.
  • Only 48% of American women view capitalism in a positive light, down from 51% two years ago.
  • Today, 18-34 year-olds are almost evenly split between those who view capitalism positively and those who view it negatively (49% vs. 46%). Two years ago, that margin was a gaping 20 points (58% vs. 38%).

The bottom line: Politicians looking to attack opponents to their left can no longer use the word "socialist" as an all-purpose pejorative. Increasingly, it's worn as a badge of pride.

Methodology: The Momentive online poll was conducted June 11-15 among 2,309 adults ages 18 and older in the United States. The modeled error estimate is +/- 3.0  percentage points.

Go deeper

Poll: Latinas more likely to open their own businesses, despite pandemic setbacks

Janie Isidoro, owner of My Corazon, a Chicano business in downtown Hanford, Calif. Photo: Al Seib/Los Angeles Times via Getty Images

Latinas in the U.S. are more likely to own, or plan to open, their own businesses than non-Hispanic women, despite the pandemic’s disproportionate burden, a recent poll found.

Why it matters: The survey, conducted by Telemundo, the Latino Victory Foundation and Hispanics Organized for Political Equality, suggests Latinas can be a driver of growth for the U.S. even though they have faced greater COVID-19-related setbacks.

Mike Allen, author of AM
1 hour ago - Politics & Policy

First look: Anita Dunn advises Dems on economy message for '22

Signs from a President Biden event yesterday in Kansas City, Mo. Photo: Chase Castor/Bloomberg via Getty Images

In a midterm preview, top Democratic strategist Anita Dunn advises the party's House and Senate members to frame Republicans "as being against the economic interests of working Americans."

What she's saying: "Explicitly framing Republicans as opposing policies to lower costs does better than simply framing Republicans as the 'party of no,'" Dunn, White House senior adviser until August, writes in the memo.

JPMorgan: "Full global recovery" in 2022

Photo: Erik McGregor/LightRocket via Getty Images

JPMorgan Chase Global Research says in a forecast to clients: "2022 will be the year of a full global recovery, an end of the global pandemic, and a return to normal conditions we had prior to the COVID-19 outbreak."

The big picture: The bullish report sees "a return of global mobility, and a release of pent-up demand from consumers (e.g. travel, services)."