The majority of millennials and Generation Z want to live under socialism, according to a new study – which showed they believe it would be the best system to tackle UK inequality – as researchers warned not to dismiss their beliefs as a passing phase.
The report, by right-wing think tank the Institute of Economic Affairs, said 16 to 34-year-olds are “hostile to capitalism”. Rather than being the “politically disengaged and apathetic” generation they have “long been portrayed as”, young people want to renationalise the railways, energy and water systems, and keep private companies out of the NHS.
The study shows “‘Millennial Socialism’ is not just a social media hype”, said Dr Kristian Niemietz, head of political economy at the IEA and author of the report. “It was not just a passing fad which ended with Jeremy Corbyn’s resignation.
“Nor is it simply a replay of the student radicalism of the 1960s,” he added. “This is a long-term shift in attitudes, which is not going to go away on its own.”
Up to 78 per cent blame capitalism for Britain’s housing crisis, according to the survey of just under 2,000 young people carried out between February and March this year, while 75 per cent agree that climate change is a “specifically capitalist problem”.
More than 70 per cent agreed that “capitalism fuels racism”, while 73 per cent said a socialist system would boost solidarity, compassion and cooperation among people.