What happened
A recent poll found that only 9% of voters under 30 have a very positive view of capitalism, while nearly 60% of voters aged 18 to 24 want a Democratic Socialist to win the White House in 2028. This is attributed to the financial struggles of young voters, who are facing high costs of living, student loans, and unaffordable housing.
However, according to columnists E.J. Antoni and Annie Heim, young voters are mistaken in their criticism of capitalism. They argue that the system young voters have experienced is not free-market capitalism, but rather a quasi-socialist economy with significant government intervention in areas such as education, housing, and healthcare.
These sectors are heavily regulated, subsidized, and directed by the government, leading to high costs and limited affordability. In contrast, areas with more competitive markets, such as consumer electronics, have seen prices decrease and quality improve.
The columnists point to examples such as the federal government's dominance in student lending, which has led to soaring tuition costs, and the restrictive regulations in the housing market, which have driven up prices. They also argue that the healthcare sector is heavily influenced by government policies, leading to a lack of price transparency and competition.
The authors suggest that the solution to these problems is not to move further towards socialism, but rather to give free markets a chance to work by reducing government intervention and regulations. They propose reforms such as getting Washington out of student lending, repealing costly regulations, and increasing transparency in the healthcare sector.
