Many Black Americans Have a Very Dim View of Capitalism

A new study from the Pew Research Center finds that most Black adults say the U.S. economic system does not treat Black people fairly and they are increasingly dissatisfied with capitalism.

In an August 2022 survey, 54 percent of Black adults said they had a very or somewhat negative impression of capitalism, up from 40 percent in May 2019. Four-in-ten Black adults held a very or somewhat positive view of capitalism in 2022, down from 57 percent in 2019.

The vast majority of Black Americans said the U.S. economic system does not treat Black people fairly and that major changes to the system are needed. Roughly eight-in-ten Black adults (83 percent) said the economic system either needs to be completely rebuilt (37 percent) or needs major changes (46 percent). Only 11 percent said the system requires only minor changes.

About six-in-ten Black adults said in 2021 that these necessary changes are little or not at all likely to occur during their lifetimes. A quarter said such changes are somewhat likely to occur, and just 12 percent said such changes are extremely or very likely to occur.

Despite having generally pessimistic views of capitalism, nearly six-in-ten Black adults said that supporting Black-owned businesses is an extremely or very effective tactic for helping Black people move toward equality in the U.S. This view was widely shared among Black adults regardless of age and gender.

The full study, “Black Americans View Capitalism More Negatively Than Positively but Express Hope in Black Businesses,” may be found here.

Related Articles

Leave a Reply

Get the JBHE Weekly Bulletin

Receive our weekly email newsletter delivered to your inbox

Latest News

New Report Sets the Baseline for Future Studies on the Effect of Texas’ DEI Ban on College Campuses

"Ensuring all Texas students have the opportunity to succeed will directly strengthen our workforce and economy," write the report's authors. "While it’s too early to assess the impact of SB 17, continuous monitoring of student outcomes is critical to improving efficiency and maximizing the potential of our future workforce."

Robert Jones Named the First Black President of the University of Washington

Dr. Jones is slated to become the University of Washington's first Black president on August 1. He comes to his new role from the University of Illinois Urbana-Champaign, where he has served as the institution's first Black chancellor for the past nine years.

Study Uncovers More Evidence That Black Students Are Overrepresented in School Discipline

In an examination of six different kinds of school discipline and punishment, three comparison groups, and 16 subpopulations, a new study has found that "no matter how you slice it, Black students are overrepresented among those punished and excluded."

Jermaine Whirl Selected to Lead Savannah State University in Georgia

“Savannah State has a rich history of producing world class artists, educators, scientists, military leaders, corporate executives and public policy advocates," said Dr. Whirl. "I look forward to working with the students, faculty, staff, alumni and the greater Savannah community to continue the legacy of the state’s first public HBCU.”

Featured Jobs