The share of Americans who believe capitalism is working has fallen sharply over the past decade, with fewer than half now saying the nation's economic system is functioning well, according to a Wall Street Journal-NORC poll released Wednesday.
The survey found that 49% of Americans believe capitalism is working either very well or somewhat well, down from 60% who held that view in a similar Wall Street Journal survey about a decade ago. At the same time, 51% said capitalism is not working well or is not working at all, up from 37% in 2015.
The findings reflect broader concerns about economic opportunity and confidence in American institutions.
Only 35% of respondents said they are fairly or very confident the United States offers people the opportunity to find good jobs and achieve the American dream.
The poll also found widespread concern over the influence of wealth and corporations in politics. About three-quarters of Americans said billionaires and large businesses wield too much power in Washington, while working people have too little influence.
A narrow majority, 52%, agreed that corporate power comes at the expense of workers and consumers and said the government should limit that influence and share control of some businesses.
The survey comes as democratic socialist candidates have gained traction in some Democratic primaries and as President Donald Trump has continued to argue that the nation's economic system has failed working-class Americans.
Confidence in the nation's political system was even lower than confidence in capitalism.
Only 12% of Americans said democracy is working very well or extremely well, while just 16% said average citizens have considerable influence over politics.
More than half, 56%, said democracy is not working well or is not working at all, the highest level recorded in comparable Wall Street Journal polling dating to 2020.
The survey also found growing pessimism about the country's direction.
More than two-thirds of respondents said the United States is in decline, while about 60% said the nation's best days are behind it rather than ahead.
Fewer than 40% said they were very proud of American history, and only 35% described patriotism as very important to them personally, down from more than 60% in a 2019 Wall Street Journal/NBC News survey.
Views on the country's history and identity differed sharply along partisan lines.
Two-thirds of Republicans said they were very proud of American history, compared with about one in five Democrats. Nearly half of Republicans said the United States stands above all other nations, while just 8% of Democrats and 13% of independents shared that view.
The poll also found younger Americans were generally more pessimistic than older respondents about the country's future and were less likely to view patriotism, religion and other traditional values as very important.
Despite those divisions, respondents found common ground on several issues.
Nearly three-quarters agreed the country has become so politically divided that the government can no longer solve major problems and that those divisions are likely to worsen.
The survey also found that 58% support birthright citizenship, about 60% believe immigration helps the United States more than it hurts, and roughly two-thirds said the separation of church and state remains very or extremely important to the nation's identity.
The Wall Street Journal-NORC poll surveyed 1,862 adults from June 11-18, including oversamples of Black, Latino and Asian American respondents. The survey has a margin of error of plus or minus 3.4 percentage points.