Black Americans view capitalism more negatively than positively: Pew

People walk on the frozen Lincoln Memorial Reflecting Pool in Washington, D.C., the United States, on Dec. 25, 2022. (Xinhua/Liu Jie)

Today, most Black adults say the U.S. economic system does not treat Black people fairly.

NEW YORK, March 9 (Xinhua) -- Black Americans have long had significantly lower wages and household wealth than White Americans, and the roots of these inequities trace back to the central role slave labor once played in the nation's economic system and the subsequent segregation and discrimination in labor markets, according to recent Pew Research Center surveys.

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.

"Views of capitalism also grew more negative among other racial and ethnic groups during this period, but the movement was particularly pronounced among Black Americans," said a Pew Research Center report about the surveys.

In fact, the 2022 survey found that Black adults were the only racial or ethnic group more likely to view capitalism more negatively than positively, and also the only group more likely to view socialism more positively (52 percent) than negatively (42 percent), the report said.

Today, most Black adults say the U.S. economic system does not treat Black people fairly. And though they are increasingly dissatisfied with capitalism, most Black adults say supporting Black businesses will help achieve equality, the report added.