Erosion of Support for Free Market System: Global Poll
Supporters of Free Market Look for Strong Government Regulation
Majorities in most countries continue to support the free market system, but over the last two years support has eroded in 10 of 18 countries regularly polled by GlobeScan. In several countries this drop in support has been quite sharp.
The latest polling was completed before the current stock market volatility that began earlier this year.
Back in 2005 only one country polled--France--had more citizens disagreeing than agreeing with the statement that "the free enterprise system and free market economy is the best system on which to base the future of the world."
Displacing France as the least supportive of the free market system today is Turkey where approval of the free market system has plunged from 47 percent in 2005 to 34 percent now, while opposition has risen from 36 to 41 percent.
Support for free markets has also dropped 15 points in South Korea since 2005, though a majority (55%) continue to be supportive. Opposition there has jumped 20 points from 19 to 39 percent.
Support among Chileans is also down 14 points since 2003 when Chileans were last polled on this question.
Support in other countries is down by more modest though significant numbers: China (down 9 points), Britain (7 points), Brazil (7 points), Mexico (6 points), and Kenya (6 points).