A growing sense of inequality is undermining trust in both society’s institutions and capitalism, according to a long-running global survey.
The 2020 Edelman Trust Barometer – now in its 20th year – has found many people no longer believe working hard will give them a better life.
Despite strong economic performance, a majority of respondents in every developed market do not believe they will be better off in five years’ time.
This means that economic growth no longer appears to drive trust, at least in developed markets – upending the conventional wisdom.
“We are living in a trust paradox,” said Richard Edelman, CEO of Edelman.
“Since we began measuring trust 20 years ago, economic growth has fostered rising trust. This continues in Asia and the Middle East but not in developed markets, where national income inequality is now the more important factor.
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