Americans have traditionally been the most enthusiastic champions of capitalism. Yet a recent American public opinion survey found that just 50 per cent of people had a positive opinion of capitalism while 40 per cent did not. The disillusionment was particularly marked among young people 18-29, African Americans and Hispanics, those with incomes under $30,000 and self-described Democrats. Three elections in a row in the U.S. have been bloodbaths by recent standards for incumbents, with the left side doing well in 2006 and 2008 and the right winning comprehensively in 2010. With the rise of the Tea Party on the right, and the Occupy movement on the left, this suggests far more is up for grabs than usual in this election year. So how justified is disillusionment with market capitalism? This depends on the answer to two critical questions. Do today’s problems in here in today’s form of market capitalism or are they subject to more direct solution? Are there imaginable better alternatives?
Summers, Lawrence H. "Why Isn’t Capitalism Working?" Reuters, January 9, 2012.