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Politics

Is America Losing Faith in Capitalism? Plus. . .

Avery Collins
Last updated: August 27, 2026 7:21 pm
Avery Collins
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It’s Thursday, August 27. This is The Front Page, your daily window into the world of The Free Press—and our take on the world at large. Today: Why Meta’s $18 billion social media settlement should be only the beginning. Was mass incarceration a myth? The woman behind the AI bot-turned-sorority star. And much more.

But first: Is America losing faith in capitalism?

As this year’s primary elections draw to a close, one question has loomed above all others: What is America’s ideal economic system? Over the past several weeks, members of the Democratic Socialists of America have scored victories from New York and Pennsylvania to Colorado and Florida, challenging the country’s long-standing faith in the capitalist system in a way rarely seen before.

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But just how widespread are these sentiments? Is this socialist fervor reflective of a broader shift in Americans’ economic views—or something more limited to the fringe left?

That’s the big question we posed in the latest edition of The Honesty Project, our partnership with Populace, an opinion-research think tank that designs surveys to capture respondents’ “private” opinions—the views they may consider too sensitive to share publicly.

Today’s results suggest that while most Americans remain wary of full-blown socialism (with some notable exceptions), just one in three Americans have a positive view of capitalism.

That’s a striking finding in a country whose economic system has long been rooted in free enterprise—and it’s just the beginning of what the poll reveals. Today, Mene Ukueberuwa dives into these findings, and reports on where Americans are on one of the most consequential issues in politics.

—The Editors

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THE NEWS

Aftermath of flash floods along the Trishuli River in Nuwakot, Nepal, on Wednesday. (Safal Prakash Shrestha/NurPhoto via Getty Images)
  • Flash floods hit the border regions of Nepal and China on Wednesday, killing at least 160 people. Authorities are still searching for over 660 missing people, 47 of whom are U.S. citizens.

  • On Wednesday, a federal judge cleared the way for the U.S. Postal Service to restrict mail-in voting in future elections. The decision, coming just months before the midterm elections, vindicates the Trump administration’s efforts, which had previously been blocked by a court order.

  • New reporting from CBS News shows that CIA director John Ratcliffe met with Russian intelligence during his visit to Moscow on Tuesday. The meeting comes at a tense moment in the region, as Russia’s war with Ukraine rages on.

  • The Treasury Office released a new list of NGOs designated as left-wing terrorist organizations. Two of the groups have worked with Calla Walsh, the Cambridge-raised progressive activist who has since become a propagandist for the Iranian regime. (For more on Walsh’s descent into extremism, read Jay Solomon’s “The Radicalization of Calla Walsh.”)

  • Senator Josh Hawley is reportedly launching an investigation into the use of Flock cameras. In a letter to the company’s CEO, Senator Hawley wrote that Congress “never authorized the network your industry has built.” His move marks one of the first major crackdowns on the surveillance technology. (For more on this, read River Page’s “A City’s War on Surveillance Cameras” and Erick Erickson’s “Why No One Trusts Data Centers and Flock Cameras.”)

  • Microsoft founder Bill Gates published a nearly 6,000-word essay on Wednesday warning the public about AI. The billionaire philanthropist wrote that there is “no plan” for the massive upheaval the technology will create, and highlighted the need for regulation.

  • The FDA approved a blockbuster new drug for pancreatic cancer on Wednesday. The pill, called Rasonque, helped subjects in a late-stage study live more than 13 months longer than expected, marking a major breakthrough in the fight against one of the deadliest forms of cancer.

  • Tim Curry passed away on Wednesday at age 80. The iconic actor is known for his roles in classic films including The Rocky Horror Picture Show, It, and more.

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