The 2017 Edelman Trust Barometer reveals the largest-ever drop in trust across the institutions of government, business, media and NGOs.
Trust in media (43 percent) fell precipitously and is at all-time lows in 17 countries, while trust levels in government (41 percent) dropped in 14 markets and is the least trusted institution in half of the 28 countries surveyed. The credibility of leaders also is in peril: CEO credibility dropped 12 points globally to an all-time low of 37 percent, plummeting in every country studied, while government leaders (29 percent) remain least credible.
The Trust Barometer found that 53 percent of respondents believe the current overall system has failed them—it is unfair and offers little hope for the future—while only 15 percent believe it is working, and approximately one-third are uncertain. Even the elites have a lack of faith in the system, with 48 percent of the top quartile in income, 49 percent of the college-educated and a majority of the well-informed (51 percent) saying the system has failed.
The gap between the trust held by the informed public and that of the mass population has widened to 15 points, with the biggest disparities in the U.S. (21 points), U.K. (19 points) and France (18 points). The mass population in 20 countries distrusts their institutions, compared to only six for the informed public.
"The implications of the global trust crisis are deep and wide-ranging," said Richard Edelman, president and CEO of Edelman. "It began with the Great Recession of 2008, but like the second and third waves of a tsunami, globalization and technological change have further weakened people's trust in global institutions. The consequence is virulent populism and nationalism as the mass population has taken control away from the elites."
Current populist movements are fueled by a lack of trust in the system and economic and societal fears, including corruption (40 percent), immigration (28 percent), globalization (27 percent), eroding social values (25 percent) and the pace of innovation (22 percent). Countries coupling a lack of faith in the system with deep fears, such as the U.S., U.K. and Italy have seen the election of Donald Trump, the Brexit vote and the failed Italian referendum.
Source: prnmedia.prnewswire.com