True free-market capitalism hasn't existed in the United States for longer than any of 3 or 4 millennials combined have been alive - specifically, since Woodrow Wilson started truly ushering in the era of big government, and FDR hammered the nail in the coffin of capitalism in this country with his rotten "New Deal". What we have is "crony capitalism" at best.
So, that's nice that they're rejecting it, but they've never had it either, and I seriously doubt they were taught anything legitimate about it beyond rants from far-left leaning teachers that "capitalism is bad" and "unions saved the workers" (a correlative fallacy, since there's no proof the market wouldn't have corrected itself without unions, particularly if the justice branch had actually been doing its job: corruption is neither unique, nor endemic to capitalism, and is every bit as bad - if not vastly worse - under highly authoritarian and controlling governments like socialism and communism tend to produce). What makes any of them think that the government and businesses would somehow be less corrupt and greedy and abusive with power consolidated even further in the hands of government, rather than resting nominally with the people? Doesn't it stand to reason that, at best, the greedy and corrupt would just then insinuate their way into government, where they could exercise even greater authority, and commit even worse abuses?
A great example of how even the best-intentioned results of socio-communism go wrong is seen in our government's assertion that it has a right to tell us what we can put in our bodies, and the resulting "War on Drugs" it declared (which would never fly in a truly free-market economy and a government that actually supported and believed in it), with the untold harm it has caused to millions around the world: if it weren't for the black market that the government created by trying to ban or control drugs, there would be no Cartels, for example. The only reason the Cartels exist is due to a facet of human nature and economics that socio-communists don't seem to understand: supply and demand will always trump laws, and that where there is a demand, a market will rise to meet it. It's only because the government is artificially trying to control that market that violent criminal gangs rose up to fill it. If there were no ban on drugs, there would be no black market, as proved early in the last century with the prohibition on alcohol, and the drop in crime that occurred when it was rescinded.
The fact remains, kids graduating from high school today are less educated than their parents or grandparents were, and even those people don't know squat about economics, or economic systems, on the average. Heck, most economists don't even know anything about economics, as evidenced by those in the Fed who think printing more money and maintaining a steady increase in inflation is somehow a good idea...
Years ago, I noticed one thing about economics, and that is that economists didn't get anything right.
-Nassim Nicholas Taleb
Economists tend to think they are much, much smarter than historians, than everybody. And this is a bit too much because at the end of the day, we don't know very much in economics.
I don't care for a lot of this person's theories, but the following, at least, I can definitely agree with:
Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry.
Lastly, I think this lady has the right of it:
I may be only a fish and chip shop lady, but some of these economists need to get their heads out of the textbooks and get a job in the real world. I would not even let one of them handle my grocery shopping.
All of which is to say the economists can't even claim to really know what they're on about, so how can the people teaching it? And if the people teaching it don't know what they're talking about (which is easily believed), why should anyone believe that the opinions of their students have any grounding in reality or bearing on anything?
A lot of Russians once thought communism was a good idea, because that was what they were propagandized to believe, the same as our students, what with them having spent most of their time in school learning to regurgitate "facts" (which are all too often no such thing) instead of how to think critically for themselves. Regardless of how many Russians thought communism was a good idea, they turned out to be provably wrong, and it will be no different with these millennials who think capitalism is bad.
Capitalism, regardless of the abuses that may arise under it, at least in principle promotes individual rights and liberties, specifically the right to self-determination, the right to the fruits of ones own labor, and the right to free association.
Communism, on the contrary, has, at the least, the same capacity for abuse, and actually a much greater one. Why on earth would anyone think that if the individual is too greedy, ignorant, selfish and biased to govern themselves and their own behavior, that a GROUP of the same human beings would be any different? Why would a bureaucrat with the unlimited power of government behind them be any less susceptible to greed and tyranny than a CEO or corporation? At least the corporations aren't symbiotically intertwined with law enforcement and the courts, which have the power to dictate life and death under color of official law, unlike the rest of the government, which the people in it can use to suit their whim, and just change the law when the law says they can't. Personally, I've known quite a lot of people who lived in or under Soviet Russia, and not one of them has ever said they missed it, or wished for a return to it.
If the millennials want socialism or communism, by all means, it's a free country, go some place that has that already, experience for yourself, and if you like it, then stay. But don't use the threat of government violence to force your social and economic policies on me in one of the few countries left that even pays lip service to the notion of an open and free market when there are already so many places that offer what you seek, albeit at the inherent and inextricable cost of liberty and freedom.