Rising inequality eroding trust in capitalism – survey
DAVOS, Switzerland — Rising income inequality is undermining confidence in capitalism around the world, according to a survey conducted by public relations firm Edelman ahead of the gathering of the elites in the Swiss ski resort of Davos.
Among those surveyed in the report published Monday, 56% thought that capitalism was doing more harm than good despite another year of solid economic growth and near-full employment in many developed countries.
The stark finding could cause a stir among the business executives and political leaders as they make their way to the annual meeting of the World Economic Forum.
“We are living in a trust paradox,” said Richard Edelman, the CEO of Edelman, which has been conducting its survey of trust for 20 years. “Since we began measuring trust, economic growth has fostered rising trust.”
Though that relationship between economic growth and faith in the system remains in developing areas such