For many young Americans, the 2008 financial crisis was more than a downturn; it was a defining life event. Families lost homes to predatory mortgages, jobs vanished overnight, and college graduates faced bleak opportunities. For organizers like Gabe Tobias, watching low-income immigrant families lose everything to adjustable-rate mortgages was transformative. The crisis convinced many that capitalism itself was stacked against working people, a belief that would later fuel their political activism, the Wall Street Journal reported.
From Occupy to organizing
The years after the crash saw protests like Occupy Wall Street channel anger at banks and political elites. Veterans of those movements are now fixtures in groups like the Working Families Party and the Democratic Socialists of America (DSA). They became the backbone of Zohran Mamdani’s mayoral campaign in New York. What was once seen as a fringe ideology has become mainstream among young progressives, offering an alternative to both Trump-era populism and a Democratic Party many view as ineffective.
A generational shift
Polling shows that socialism resonates strongly with younger Americans. A YouGov survey this year found 62% of people aged 18 to 29 held a favourable view of socialism—an unimaginable figure during the Cold War. For many, the ideology is less about Marxist theory and more about housing, healthcare, and wages. As tenants’ rights organizer Genevieve Rand put it, “Why should I care about saving democracy if it can’t provide me a home or food I can afford?” This practical framing has broadened socialism’s appeal and pulled it into the political mainstream.
The rise of Mamdani
Mamdani, who won the Democratic primary for New York mayor in June, represents the culmination of nearly two decades of grassroots work. His charisma, use of social media, and ability to mobilize immigrant communities mattered—but so did the seasoned network of organizers forged through crises, campaigns, and movements since 2008. His victory signals that socialist politics is not only viable in America’s biggest city but potentially ascendant.
A politics forged in hardship
For many young socialists, the link between personal experience and political conviction is direct. Rand recalls her family cancelling music lessons and moving in with grandparents during the recession. Tobias remembers his disappointment as the Obama administration bailed out Wall Street but failed to punish its excesses. Both stories illustrate how unmet expectations hardened into a belief that systemic change was necessary—and possible through organizing.
Looking beyond November
As Mamdani prepares for the general election, activists stress that his candidacy is only the beginning. Groups like the DSA Fund are now focused on governance, not just winning campaigns. The goal, they argue, is to turn electoral victories into durable policies on rent control, healthcare, and climate. For Tobias and others, Mamdani’s rise is “just step one” in a longer fight that began with the trauma of 2008 and continues to shape America’s political future.
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