What Does The World Think Of Capitalism?

What Does The World Think Of Capitalism? by Richard Morrison, Foundation For Economic Education

The public is misled by pop culture

Capitalism seems to have few defenders these days. The laudable desire to sympathize with the poor and distressed has led many to believe there’s less growth and opportunity than there really is, and to overestimate the scale and scope of questionable business practices. A new international poll from the London-based Legatum Institute about public attitudes toward capitalism highlights exactly these problems.

The poll surveyed people in the UK, US, and Germany, as well as in the up-and-coming economies of Brazil, India, Indonesia, and Thailand. Large majorities in both developed and rapidly developing countries believed that, in a...