Millenials & Gen ZS Consider “Democratic Socialism” Over Capitalism

If you were to peer into the crowd of Democratic presidential candidate Senator Bernie Sanders, you’d find a large majority of college-educated millennials and gen Zs listening intently. The Vermont senator is attracting an intelligent crowd, like the students he spoke to last week at Georgetown University. These students are eager to understand the meaning of Sander’s “democratic socialism.” A concept their own parents would want no part of, because most of them, come from the school of diehard American capitalism. While most baby boomers and gen Xers are conditioned to embrace the American capitalistic dream, it’s allure has waned for younger Americans. Between the cost of higher education, college debt and the changing global business climate, everything has changed for American youth.

My own 18-year-old daughter told me she supports Sanders ideals. She is a bright young academic freshmen now attending the University of California at Santa Barbara. Nobody told her which candidate to support, but she listened to him speak and liked what he said. Young adults in college don’t know a lot about politics, but they do know how much it costs to live and attend college, leaving many in debt.

Research supports this fact. YouGov found that 26 percent of respondents between the ages of 18-39 support the socialistic concept. Only 15 percent of people over the age of 65 have a favorable opinion of socialism. In addition, the Pew Research Center found that almost 50 percent of people between the ages of 18-49 have a favorable view of socialism.

According to a recent story by All Things Considered, many students at George Mason University in Northern Virginia, were questioned by NPR, as to whether they were for or against socialism. According to the story, the views were mixed, but many said they liked the theoretical idea of socialism, but don’t believe that it translates into practice. Some students expressed that they had too little experience in life to have an opinion. However, most students were openly interested in knowing more about socialism.

Accordshutterstock_317925080ing to Kei Kawashima-Ginsberg, there are obvious reasons for the current social divide between younger and older Americans, one is historical and the other economic. According to an interview b
etween NPR and Kawashima-Ginsberg, Director of the Center for Information & Research On Civic Learning and Engagement at Tufts University, “Older millennials that graduated from college or got into the workforce in the late 2000s, really had a hard time believing in American dreams and capitalism.” She reinforced the fact that millennials are not as keen on capitalism as their parents. College graduates and the younger generation are not succeeding in the same way as their parents did at their age. The last recession and changing economic factors account for most of the blame. It’s difficult for established hard-working baby boomers to get home loans today and nearly impossible for many millennials, who generally earn less and also carry a lot of college debt. The proof is in the pudding.

Kawashima-Ginsberg also referred to history and geopolitics as culprit. “When young people think about socialism, or hear that term, the first thing they think about are Scandinavian countries, like Sweden and Norway, where people seem to be quite happy and people seem to be pretty well supported,” she observed. Older generations have recollections of the Soviet Union’s failed regime and reject socialism.

It was also noted, that millennial philosophy differs among men, women and older and younger millennials. “There’s a big diversity within the millennial generation about what they believe in, who they might support, and how they might vote, but also by gender and race,” according to Kawashima-Ginsberg.

Most see that the world is changing and getting smaller and smaller, due to internet connectivity, the technological revolution and the explosion of mobile device use globally. All of these factors are pushing business toward a new dimension.

College grads will not have the same work structure or benefits as their parents before them. But, these changes do offer exciting opportunities for savvy entrepreneurs.

That is exactly what Mobile Corporation CEO Jeffrey Peterson thought. Build it and they will come to the brand. He knew that the freelance revolution was coming and that it was aimed dead center at the millennial and generation Z demographics. is the wave of the future. It is the marketplace of today, for independent people following their own dream. Anyone can start their own business, by using one mobile device and their skills, whenever they want, based on their own terms.

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