Generation Z's peculiar socialism

The article criticizes what it terms the "socialism" of Generation Z, asserting that this generation disregards decades of historical experience and economic principles. It claims that when faced with rising living costs, Gen Z advocates for price controls in retail. When urban housing rents become expensive, they call for rent caps. If government revenue falls short, their proposed solution is to increase taxes on the wealthy. Furthermore, many urban leaders emerging from this generation are reportedly planning to make public transportation free and promise generous child-care subsidies.

The author draws a parallel to the period following the World War I peace treaties, where predictions of another major war within twenty years were common. This was attributed to the rise of a generation that had not experienced the horrors of war, making them more susceptible to being drawn into conflict. Similarly, the article suggests that nearly two generations have grown up since the collapse of socialist economic systems. Consequently, it is understandable that newer generations might be inclined to repeat past systemic errors.

However, the author emphasizes that this trend is not necessarily an ideological shift. Surveys on ideological and political views indicate a decline in both capitalism and socialism among young adults in the United States. Between 2020 and 2025, the proportion of twenty-somethings sympathizing with capitalism fell from 45% to 38%, while support for socialist ideology dropped from 30% to 21%. This suggests that the preference is not for a specific ideology but rather for practical measures perceived as "equality-based."

The author, identified as an economist, concludes that the current push for such policies by Generation Z is driven by a lack of firsthand experience with the negative consequences of past socialist experiments. Their proposals, while seemingly aimed at fairness, risk repeating historical economic failures without a deep understanding of the underlying causes or long-term effects.