Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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Reconciling the U.S.’s current economic model with its democracy is a challenging task for Americans but to come up with a name to call what they want appears to be even more challenging. The crisis is more evident for the Democrats, as opposed to Republicans who generally think the only problem with the economy is that there is too much government regulation and support for the poor, making them lazy. As the November mid-term elections, which will also set the tone for the 2020 presidential election, approach, this dilemma of the Democrats is playing out. A Gallup poll recently threw up more evidence of this crisis for the Democrats. Only 47% of Democrats view capitalism positively, down from 56% in 2016; 57% of Democrats now view socialism positively, which is little change from 2010. Among Republicans, 71% are very positive about capitalism while only 16% are positive about socialism. The Democratic base has been showing an affinity towards ‘socialism’ since the economic collapse of 2008, Gallup found.
