A growing majority of Americans now believe the nation’s economic system is failing, according to a newly released Wall Street Journal-NORC survey, underscoring rising dissatisfaction with capitalism, declining faith in democracy, and deep concern over the country’s future.

The poll, released Wednesday, found that fewer than half of Americans — 49% — believe capitalism is working either very well or somewhat well. That marks a significant drop from roughly a decade ago, when 60% expressed confidence in the system. Meanwhile, 51% now say capitalism is functioning poorly or not at all, compared to 37% who held that view in 2015.

The results point to growing unease over economic mobility and waning trust in America’s core institutions.

Just 35% of those surveyed said they are fairly or very confident that the United States still provides people with a meaningful opportunity to secure good jobs and achieve the American dream.

Many respondents also expressed frustration over the role of money in politics. Approximately three-quarters said billionaires and major corporations have excessive influence in Washington, while ordinary working Americans have too little say in government.

A slim majority, 52%, said they believe large corporations exercise too much power at the expense of workers and consumers, and they support government efforts to curb that influence and share control of certain businesses.

The findings come as democratic socialist candidates continue making gains in Democratic primary elections and as President Donald Trump has repeatedly argued that the country’s economic system has left working-class Americans behind.

Public confidence in the political system proved even weaker than confidence in capitalism.

Only 12% of respondents said democracy in the United States is working very well or extremely well, while just 16% believe average citizens have significant influence over political decisions.

More than half of those surveyed — 56% — said democracy is either not working well or not working at all, the highest level measured in comparable Wall Street Journal polling since 2020.

The survey also revealed widespread pessimism about where the country is headed.

More than two-thirds of Americans said they believe the United States is in decline, and about six in ten said the nation’s best years are already in the past rather than still ahead.

Expressions of national pride have also weakened. Fewer than 40% said they are very proud of American history, while only 35% described patriotism as very important in their own lives, a notable decline from more than 60% who said the same in a 2019 Wall Street Journal-NBC News survey.

Attitudes toward America’s history and identity varied dramatically depending on political affiliation.

Roughly two-thirds of Republicans said they are very proud of American history, compared with only about one in five Democrats. Nearly half of Republicans believe the United States stands above every other nation, while only 8% of Democrats and 13% of independents agreed.

Age also played a role in shaping opinions. Younger Americans tended to be more pessimistic about the country’s future than older respondents and were less likely to view patriotism, religion, and other traditional values as especially important.

Despite the sharp ideological divides, respondents shared concern over the nation’s political climate.

Nearly three-quarters agreed that political polarization has become so severe that the federal government can no longer effectively address major national problems, and they believe those divisions are likely to deepen.

The survey also found broad support for several issues. Fifty-eight percent favor birthright citizenship, about 60% believe immigration benefits the United States more than it harms it, and roughly two-thirds said maintaining the separation of church and state remains very or extremely important to America’s identity.

The Wall Street Journal-NORC poll surveyed 1,862 adults nationwide between June 11 and June 18. The sample included additional Black, Latino, and Asian American respondents, and the survey carries a margin of error of plus or minus 3.4 percentage points.

{Matzav.com}