LOSING HOPE

People No Longer Believe Working Hard Will Lead To Better Life
A political sticker mocking President Joe Biden and Vice President Kamala Harris is seen next to a gas pump display showing a transaction in Los Angeles, Monday, March 7, 2022. The price of regular gasoline broke $4 per gallon on average across the U.S. on Sunday for the first time since 2008. (AP Photo/Jae C. Hong)

At a glance

  • 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.

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