Confidence in Capitalism
Younger Americans, free markets, work, and the future
Younger Americans, free markets, work, and the future
In 2021, I (Christina) initiated a multi-year survey to examine what Americans born after 1980, commonly referred to as Millennial and Gen Z generations, think about capitalism. I recruited Kylie King to join the project. I'm a Gen Xer, and Kylie is a Millennial. We are interested in how Millennials and Gen Zs differ from one another and older generations in their ideas about entrepreneurship, business, work, free enterprise, markets, trade, redistribution, and other economic concepts. These ideas are often conflated, considered piecemeal, or collected for marketing purposes. Young Americans have complex ideas about capitalism. Their views will develop with age and the evolution of American culture.
Our research uses national surveys. We design the surveys, and YouGov collects demographically representative samples. This work is ideal for identifying national patterns that can be refined with targeted research on demographics, regions, industries, and other group identifiers. We created this website to share data, white papers with comparative analysis, and information about the methodology. We distill insights for business leaders managing these groups on a Substack called Free Market and the Future. Confidence in Capitalism is conducted through the Center for the Study of Capitalism at Wake Forest University in Winston-Salem, North Carolina, USA, under IRB00024281. It is supported by the Billy D. and Deborah Prim Research Fund.
John A. Allison IV Executive Director,
Center for the Study of Capitalism at Wake Forest University
Director, Institutional Effectiveness, SUNY Plattsburg
Research Affiliate Center for the Study of Capitalism, Wake Forest University
An explainer for Fast Company about Safety Capitalism describes statistics presented in papers on this website. As a companion to the Fast Company explainer, downloadable a pdf with a list of relevant findings divided into three age groups: Older Millennials (born between 1981-1988), Younger Millennials (born between 1989-1996), and Gen Zs (born between 1997-2012). Grouping outcomes by age allows you to see differences between the oldest and youngest respondents. Statistically significant differences between age groups might be due to generational characteristics or changes in attitude that often come with age and experience.
Capitalism Satisfaction Barometer, March 2023. We asked American adults how important it is to allow individuals to make these choices: own property; make investments with the goal of earning a profit; decide what to do with profits from investments; move from one job to another; bargain for compensation based on skill level and profession; access credit for personal needs, such as buying a house. This chart compares the responses of all American adults to those of Gen Zs and Millennials (aged 18-41 in 2023).