Add this to the complaints that schools aren't teaching the kids things that will help them become productive citizens. Apparently, they aren't learning the distinctions among economic systems. That's a pretty big failure if we are ending up with young people who instinctively reject capitalism and accept socialism without knowing what either is.
The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.
It isn't clear that the young people in the poll would prefer some alternative system, though. Just 33 percent said they supported socialism. The survey had a margin of error of 2.4 percentage points.
They needn't look any farther than Venezuela to see how disastrous socialism is to the people who have to suffer the consequences. Our local newspaper carries AP articles from time to time about conditions in Venezuela, but try as they might, they can't seem to reach millennials who until recently got their news from the Daily Show. However now that Jon Stewart has left the show, one wonders where they get their news -- social media?
In any event, they want something better from the economy than what they are promised with headlines like this: How the state of the economy is literally killing people.
But ultimately, as Larry Kudlow likes to say, "Free market capitalism is the best path to prosperity."
P.S. Apparently Millennials don't like being called Millennials. Nicknames have been assigned to each generation since the forties. If they're trying to shed theirs, maybe they'll have better luck than the previous generations had.