Free-market capitalism remains the best system ever discovered for human flourishing. Yet political support for it is wavering — and that should alarm anyone who cares about prosperity and freedom.

A recent Gallup poll on Americans’ views of capitalism and socialism found that just 54% of Americans now view capitalism favorably — the lowest level Gallup has ever recorded.

The partisan breakdown is striking:

• Republicans remain strongly pro-capitalist, though support has softened.

• Independents now only narrowly favor capitalism.

• Among Democrats, fewer than half view capitalism positively, while nearly two-thirds view socialism favorably.

The data reveal a hard truth: those of us who defend free-market capitalism are unlikely to persuade most Democrats anytime soon. Many Democrats appreciate the outcomes of capitalism — jobs, innovation, rising living standards — yet reject the label itself, often associating it with inequality, corporate favoritism, or cronyism.

That means the task before us is bigger than winning a policy argument. It’s about reclaiming the moral case for capitalism.

In today’s episode of This Week’s Economy, I lay out that moral case, explore why criticisms of capitalism are gaining traction, and discuss how we can renew support for the system that has lifted more people out of poverty than any other in history. Tune in to the full episode on YouTube, Apple Podcast, or Spotify, and visit my website for more information about Ginn Economic Consulting and show notes.