Study shows that people no longer trust capitalism, working for a better life

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Mistrust in major institutions around the world is growing among the general public as confidence in Australia falls again.

The annual Edelman Trust barometer has revealed that, for the third consecutive year, trust has fallen on four key pillars in the country.

Australia has dropped a point in the Global Trust Index, falling from 48 to 47, linking with the United States and behind Argentina, Colombia and the United Arab Emirates.

Australians not only become less reliable, but they are also pessimistic about the economic outlook.

Despite a prime minister who continues to comment “if you have a chance, you’ll have a chance,” only 32 percent believe it will be better in five years.

That represents a two percentage point drop from last year and puts us below Russia.

Australians are also worried about losing the respect and dignity they once had and fear being left behind.

Globally, 56% of respondents believe that capitalism as it exists today does more harm to the world than good.

This was not only for the marginalized, since 59 percent of the middle quartile and 57 percent of the top quartile believe that capitalism did more harm than good.

Interestingly, Australia fell in the middle, with 50 percent agreeing with the claim that capitalism does more harm than good.

That made Australia on a par with six other markets, including Canada and the US. UU., In continuing to believe in the capitalism model.

Nearly 50 percent of respondents believe that the system is failing them and only 18 percent think it is working for them.

This can be explained by most respondents who believe they will lose their job at some time in the future.

The biggest fear of job loss in Australia is the economy of concerts, with 60 percent of people who believe that this will be the reason they will lose their job.

The second most important reasons are a recession and lack of training and skills.

Interestingly, despite conversations in Australia about jobs abroad, only 46 percent of people fear that and only 45 percent fear that automation takes their jobs.

GOVERNANCE TRUST

However, Edelman’s biggest disparity is the widening gap between the informed and “uninformed” public.

In Australia, the difference in government confidence between the informed public and the mass population was 23%, the highest in the world.

This was particularly notable when observing government institutions, businesses, non-governmental organizations (NGOs) and the media, where the informed public trusted three out of four, while the mass population did not trust any of them. .

According to the Edelman barometer, the informed public represents 17 percent of the world’s population and meets the criteria of university education, between 25 and 64 years and in the top 25 percent of household income. The mass population is considered the other 83 percent.

Trust is a big problem worldwide, and governments continue to lose the trust of their citizens.

The Australian government itself distrusts (56 percent) and most Australians rate the government as unethical and not competent.

Government leaders are not doing better and sit alongside very rich and religious leaders as the least reliable people in the world to address the challenges.

Meanwhile, scientists, including those who advocate climate change policies, are the most reliable, while journalists fall into the neutral category.

Governments are also considered unfair and 57% of people believe that they only serve the interests of a few.

Instead, 74 percent of people believe that CEOs should take the lead in the change instead of waiting for the government to impose it.

That already seems to be happening around the world, including Qantas CEO Alam Joyce, promising to reduce all emissions by 2050 and Microsoft CEO Satya Nadella, pledging to make the technology company have a negative carbon.

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