Group Launches Campaign to Shift Youth’s Negative Perception of Capitalism

Alexander Hamilton on the ten dollar bill / Getty Images
• May 23, 2017 1:40 pm


A banking firm attempting to change millennials' negative perception of capitalism is launching a campaign to highlight the positive aspects of the free market.

In 2016, a Harvard poll found that a majority of millennials—51 percent—do not support capitalism.

Stephens Inc., an independent banking firm, is launching a campaign called "This is Capitalism," which includes a series of videos that tell stories of business leaders, historians, and academics who have influenced the economy by using the free market to either create businesses or support their community.

"Throughout my tenure, I have become increasingly concerned by a shift in the perception of capitalism and what it means to our country," said Warren Stephens, president and CEO of the company. "Few ideas and institutions are as misunderstood as capitalism is today."

"No other economic system has lifted more people out of poverty than capitalism," he said. "It is why America today serves as the gold standard across the globe."

The videos highlight the stories of individuals such as Alexander Hamilton, the father of the American economic system, and Sam Walton, founder of Walmart, who believed in lowering prices and streamlining production.

"It is time to reclaim the term in recognition of the inherent social contract that underlies capitalism and the good it can do for our society," Stephens said. "It is our hope that with these uniquely American stories we will start a dialogue about the positive impact free market enterprise has on our country and communities."

Published under: Economy, Education, Millennial