Young people are loving communism. According to a recent Cato Institute survey, over one-third of individuals under 29 have a favorable view of communism, compared to just seven percent of 55- to 64-year-olds and two percent of people 65 and older.
We are seeing this broader trend show up at the ballot box with the Mamdani campaign winning its primary for New York City’s mayor. (It’s worth noting that Mamdani led Cuomo among middle- and higher-income voters, but Cuomo did substantially better among lower-income voters).
There are a few reasons for this difference in opinion. For starters, younger people were not alive during the rise and fall of the largest communist trial run in recent history: The Soviet Union. (I say this as someone who falls under this “younger than 30” category, and was also not alive during the Soviet Union). Not seeing the devastation when communism was tried allows one to separate the theory behind communistic or socialistic ideas and their reality.
Younger generations are seeing some of the struggles of life today, but blaming capitalism for it. As Julia Cartwright of Kalamazoo College points out, in New York, voters are more likely voting against the status quo and not necessarily for socialist ideas. Archbridge Institute’s American Dream Snapshot shows that young people are seeing the American Dream as out of reach, with nearly four in 10 individuals under 30 years old finding the dream to be out of reach, compared to just 30 percent among 45- to 59-year-olds. They see high costs of living and blame greedy landlords rather than land use regulation; the system can be rigged against people my age, but it’s not “free markets” that are rigging it.
Argentine President Javier Milei is a prime example of what can be possible when you allow individuals to engage in market activity. Even Noah Smith, who few would confuse to be a radical free-market apologist, wrote a compelling summary about Milei’s successes. Milei’s success is indeed fast and sudden, even quicker than many free-market advocates expected. Guatemala’s Universidad Francisco Marroquin is collecting data from Argentina during Milei’s tenure and reveals an impressive trend: Monthly inflation is now just 1.5 percent, compared to when his tenure started (25.5 percent).
Continue reading at Townhall.
Justin Callais, PhD, is the Chief Economist at the Archbridge Institute. He leads the institute’s “Social Mobility in the 50 States” project and conducts original research on economic mobility, economic freedom, economic development, and institutional analysis. Follow his work @JustinTCallais and subscribe to his newsletter, Debunking Degrowth.
Economics of Flourishing
Young people are loving communism. According to a recent Cato Institute survey, over one-third of individuals under 29 have a favorable view of communism, compared to just seven percent of 55- to 64-year-olds and two percent of people 65 and older.
We are seeing this broader trend show up at the ballot box with the Mamdani campaign winning its primary for New York City’s mayor. (It’s worth noting that Mamdani led Cuomo among middle- and higher-income voters, but Cuomo did substantially better among lower-income voters).
There are a few reasons for this difference in opinion. For starters, younger people were not alive during the rise and fall of the largest communist trial run in recent history: The Soviet Union. (I say this as someone who falls under this “younger than 30” category, and was also not alive during the Soviet Union). Not seeing the devastation when communism was tried allows one to separate the theory behind communistic or socialistic ideas and their reality.
Younger generations are seeing some of the struggles of life today, but blaming capitalism for it. As Julia Cartwright of Kalamazoo College points out, in New York, voters are more likely voting against the status quo and not necessarily for socialist ideas. Archbridge Institute’s American Dream Snapshot shows that young people are seeing the American Dream as out of reach, with nearly four in 10 individuals under 30 years old finding the dream to be out of reach, compared to just 30 percent among 45- to 59-year-olds. They see high costs of living and blame greedy landlords rather than land use regulation; the system can be rigged against people my age, but it’s not “free markets” that are rigging it.
Argentine President Javier Milei is a prime example of what can be possible when you allow individuals to engage in market activity. Even Noah Smith, who few would confuse to be a radical free-market apologist, wrote a compelling summary about Milei’s successes. Milei’s success is indeed fast and sudden, even quicker than many free-market advocates expected. Guatemala’s Universidad Francisco Marroquin is collecting data from Argentina during Milei’s tenure and reveals an impressive trend: Monthly inflation is now just 1.5 percent, compared to when his tenure started (25.5 percent).
Continue reading at Townhall.
Justin T. Callais
Justin Callais, PhD, is the Chief Economist at the Archbridge Institute. He leads the institute’s “Social Mobility in the 50 States” project and conducts original research on economic mobility, economic freedom, economic development, and institutional analysis. Follow his work @JustinTCallais and subscribe to his newsletter, Debunking Degrowth.
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