A lack of faith in societal institutions triggered by economic anxiety, disinformation, mass-class divide and a failure of leadership has brought us to where we are today – deeply and dangerously polarized.
People now fear for their economic future without a trust safety net. Only 40% of respondents say they and their families will be better off in five years, a 10-point decline from 2022.
Very few would help, live near, or work with someone who disagreed with their point of view:
would help them if they were in need.
would be willing to live in the same neighborhood.
would be willing to have them as a coworker.
Even among those who see their country as polarized, my employer is the only trusted institution.
While people want business to do more on social issues, it risks being politicized when engaging on contentious issues.
As the most trusted institution, business should leverage its comparative advantage to inform debate and deliver solutions on climate, DEI, and skill training.
Business and government can build consensus and collaborate to deliver results that push us towards a more just, secure, and thriving society.
Invest in fair compensation, training, and local communities to address the mass-class divide and the cycle of polarization.
Be a source of reliable information, promote civil discourse, and hold false information sources accountable.
Business has increased its ethics score for the third straight year, rising 20 points since 2020. It is the only institution viewed as both competent and ethical.
Globally, there is an 11-point gap between trust in business and trust in government: 62% trust business, while only 51% trust government.
Those in the top quartile of income are more trusting than those considered low income. Double-digit trust inequality exists in 21 of 28 countries surveyed.
The study find that business remains more trusted than government by a good margin, with 53% of European respondents trusting business to do the right thing, as compared to only 44% for government, a full 9 points behind business. In Europe, trust in government is at its lowest in Germany where only 34% trust it, a stat which does not bode well for Europe’s largest economy.
Europe is deeply divided on many critical issues, but united in its negative economic outlook, its distrust of government, and its disdain for CEOs and politicians, and its belief that business should be doing more to address key societal issues like climate change, healthcare, economic inequality, energy shortages and trustworthy information.
In Europe, trust in government is at its lowest in Germany where only 34% trust it, a stat which does not bode well for Europe’s largest economy. On the other end, Ireland is the most likely to trust its government, at 47%. Finally, trust in government leaders is also low across the continent, with only 35% of Europeans saying that they trust government leaders to do what is right.
Edelman Analysis: This year’s study reveals a continent that is becoming ever more pessimistic, not only about its economic future but also about its leader’s ability to tackle rising polarization.
