The Global Trust Crisis

Wed, 29 Jan 2020 02:51:57 +1100

Andrew Pam <xanni [at] glasswings.com.au>

Andrew Pam
<https://foreignpolicy.com/2020/01/22/davos-world-leader-trust-institutions-populism-protest/>

"The Edelman Trust Barometer, an annual study of the level of trust in
institutions across 28 countries, shows the erosion of faith in the
system. The results of the recently released 2020 report show low
confidence in government and media, with business and NGOs fairing
slightly better. This year’s survey also showed a worrying 14 percent
“trust divide” at the global level between the “informed public”—defined
as wealthier, more educated citizens who are more frequent consumers of
news—and the general population. A record eight countries—Australia,
Brazil, France, Germany, Italy, Ireland, Russia, and Spain—registered
the highest-ever gaps between these two groups. A full 23 countries
recorded a double-digit gap. Overall, less than 20 percent of the global
population expressed trust in the system, and 73 percent supported a
change in the current system of global capitalism.

Why are so many people so disillusioned? There are four broad reasons,
and they apply globally.

The Edelman report singles out the first cause: disillusionment with
rising inequality and an increasingly insecure economic future."

"A second driver of mistrust is growing polarization between different
segments of society."

"Third, public alarm about climate change, which is intrinsically linked
to the world’s resource-intensive production model, appears to be
escalating."

"Fourth, many citizens of developed countries believe that international
trade contributes to job losses and stagnating wages, as a host of
manufacturing and tradeable service industries have migrated to
lower-cost countries."

Via Paul Ferguson.

Cheers,
        *** Xanni ***
--
mailto:xanni@xanadu.net                   Andrew Pam
http://www.xanadu.com.au/                 Chief Scientist, Xanadu
http://www.glasswings.com.au/             Partner, Glass Wings
http://www.sericyb.com.au/                Manager, Serious Cybernetics

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