Why College Students Prefer Socialism—and Why They're WrongWhen the media say the middle class is in decline, they're technically right—because people are getting richer.
John Stossel | 12.24.2025
People criticize capitalism. A recent Axios-Generation Lab poll says, "College students prefer socialism to capitalism."
Why?
Because they believe absurd myths. Like the claim that the Soviet Union "wasn't real socialism."
Socialism guru Noam Chomsky tells students that. He says the Soviet Union "was about as remote from socialism as you could imagine."
Give me a break.
The Soviets made private business illegal.
If that's not socialism, I'm not sure what is.
"Socialism means abolishing private property and…replacing it with some form of collective ownership," explains economist Ben Powell. "The Soviet Union had an abundance of that."
Socialism always fails. Look at Venezuela, the richest country in Latin America about 40 years ago. Now people there face food shortages, poverty, misery, and election outcomes the regime ignores.
But Al Jazeera claims Venezuela's failure has "little to do with socialism, and a lot to do with poor governance….Economic policies have failed to adjust to reality."
"That's the nature of socialism!" exclaims Powell. "Economic policies fail to adjust to reality. Economic reality evolves every day. Millions of decentralized entrepreneurs and consumers make fine tuning adjustments."
Political leaders can't keep up with that.
Still, pundits and politicians tell people, socialism does work—in Scandinavia.
Mad Money's Jim Cramer calls Norway "as socialist as they come!"
This too is nonsense.
"Sweden isn't socialist," says Powell. "Volvo is a private company. Restaurants, hotels, they're privately owned."
Norway, Denmark, and Sweden are all free market economies.
Denmark's former prime minister was so annoyed with economically ignorant Americans like Bernie Sanders calling Scandinavia "socialist," he came to America to tell Harvard students that his country "is far from a socialist planned economy. Denmark is a market economy."
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Source:
https://reason.com/2025/12/24/why-college-students-prefer-socialism-and-why-theyre-wrong/