Staff Reports
The news is blunt: a recent Wall Street Journal–NORC poll finds fewer than half of Americans think capitalism is working. That is a warning light flashing over the conservative movement — and not because Democrats are louder now, but because even our own people are starting to look sideways at free markets. If conservatives want to keep the claim that liberty and prosperity go together, they need to answer why voters are losing faith.
What the WSJ–NORC poll actually says
The poll shows just 48 percent of Americans say capitalism is working “very” or “somewhat” well. Confidence falls with age: about 56 percent of people 65 and older approve, but only 42 percent of adults 18–34 do. Those are not tiny cracks; they are wide ones. The survey also found roughly three in four Americans think billionaires and big companies have too much power in Washington, and about half say corporate power hurts workers and consumers. Those are the facts. Ignore them at your peril.
Put simply, skepticism is now mainstream and cross‑party. Other polls have shown similar dips in trust for markets and democracy, so this isn’t a one‑off headline. Young people are especially cynical about whether the system offers fairness or a chance to get ahead. That leaves an opening for the left — or for conservatives who can speak plainly about opportunity, not just old slogans about supply curves.
Why conservatives should stop borrowing the left’s playbook
Some on the right have started to sound like activists for bigger government. President Donald Trump’s attacks on gas companies and Vice President J.D. Vance’s flirtation with “Hamiltonian” economics send a mixed message. Worrying about corporate power is legitimate. But trading a belief in markets for a taste of centralized control is a bad trade. If conservatives keep adopting the left’s rhetorical frame — “government should pick winners” — they risk losing the argument and the underlying principle that markets create wealth and freedom.
Here’s the conservative reply voters want: defend free enterprise, yes, but fight crony capitalism. Break up monopolies where they exist, enforce antitrust fairly, end regulatory capture, remove barriers that choke small businesses, and make the case for opportunity in plain language young people understand. Political theater that sounds anti‑market only convinces voters that both parties are in the same club. If conservatives want to win hearts and votes, start winning the argument for freedom and fix what’s broken without handing the keys to the state. That’s the long game — and it’s the only one that actually keeps freedom and prosperity together.
