A recent Gallup poll shows that a majority of Democrats (57%) view socialism favorably compared to a new low (47%) of Democrats who view capitalism favorably. To put this in perspective, just a few years ago, a majority (56%) of Democrats viewed capitalism favorably. Meanwhile, more than seven in ten (71%) of Republicans have had a favorable view of capitalism during that same time period.

The Gallup poll was quick to acknowledge that their poll does not define socialism or capitalism. As I have mentioned in previous commentaries and even in my latest book on Christians and Economics, this might explain some of the lower percentages. The term “capitalism” has often been degraded in the popular culture.

The Gallup poll also believes that it is “possible that the drop in Democrats’ positive views of capitalism is related to Donald Trump’s presidency.” After all, Trump has been described as a free market capitalist. If you dislike Trump, then it is likely you will also dislike capitalism.

One last reason for the change can be linked to the prominence of socialists within the Democrat party. Senator Bernie Sanders and Alexandria Ocasio-Cortez have been traveling the country speaking to crowds and endorsing candidates. Some of the proposals by Sanders that used to be on the margin of the Democrat party are now becoming mainstream.

Democratic socialists like to point to Sweden and Denmark as socialist success stories. But these countries are not technically socialist. And as I have discussed in previous commentaries, the success of these countries depended on a capitalist foundation long before the significant expansion of social programs.

The Gallup poll announced that this was the first time Democrats viewed socialism more favorably than capitalism. This will affect how they vote in these mid-term elections.