bernie sanders supporter Mario Tama/Getty Images

70% of millennials said they’d be somewhat or extremely likely to vote for a socialist candidate, according to a recent YouGov poll.

Millennials and Gen Z are less likely than older generations to favor capitalism — only around half of each cohort does, according to the poll.

Look no further than millennials‘ debt loads and stagnant wages to see why they’re embracing socialism.

Visit Business Insider’s homepage for more stories.

Younger generations are embracing socialism — or at least opening up to it.

Seventy percent of millennials and 64% of Gen Z said they’d be somewhat or extremely likely to vote for a socialist candidate, according to a recent poll conducted by data and research firm YouGov for the Victims of Communism Memorial Foundation. The survey polled 2,100 Americans age 16 and older.

Just 44% of Gen X and 36% of baby boomers expressed favorable takes on socialist candidates. Millennials and Gen Z are also less likely to feel very or somewhat favorable toward capitalism, at 50% to 49%, compared to the 58% of Gen X and 63% of boomers who feel warmly toward free markets.

The 2020 presidential race is being shaped by candidates proposing socialist or socialist-inspired policies. Per Pew, 24% of under-30, left-leaning voters would put Bernie Sanders as first choice for the nomination, with another 18% saying they’d put Elizabeth Warren first.

Here’s a holistic look at the economic conditions that are driving millennials toward more interventionist policies and candidates — a generation for whom financial success is simply defined as being debt free.

70% of millennials say they’d vote for a socialist. 5 facts about their debt-saddled economic situation tell you why.

6 Bilder Open slideshow