Established institutions like the media and government are no longer seen as competent or ethical enough to address crises like climate change and health care, according to Edelman's 2020 Trust Barometer study. So businesses are leading the way.
Between the lines: The survey shows a stark class divide — a growing gap in institutional trust between wealthier, more educated and better informed people vs. the rest of the population.
For the first time, a record number of developed countries, including Australia, France, Germany and the UK, are experiencing double digit divides in trust between the informed class and the mass population.
Around the world, business is considered the most trusted institution. In the U.S., there are plenty of examples of business filling the void left by other institutions.
BlackRock CEO Larry Fink surprised Wall Street last week when he released his annual letter to CEOs and clients announcing that it would make sustainability its new standard for investing.
In August, 181 of the nation’s top CEOs agreed to embrace a new business model in which driving shareholder value is no longer their sole business objective. Rather, service to society, communities and employees would become a top priority.
Yes, but: Even though people around the world say they increasingly trust corporations to solve problems, they also say they don't trust capitalism.
57% of people globally believe that capitalism as it exists today "does more harm than good in the world." The percentage of people who think capitalism is working for them is down year over year by 3%.
Declining trust in media also contributes to the trust gap between the informed public and the public at large, according to the survey.
57% of people globally believe that the media they use is "contaminated with untrustworthy information." andthe vast majority (76%) worry about false information or fake news being used as a weapon.
The bottom line: “We are living in a trust paradox,” said Richard Edelman, CEO of Edelman in a press release. “Fears are stifling hope, as long-held assumptions about hard work leading to upward mobility are now invalid.”
Reproduced from Pew Research Center; Note: 6,637 respondents, ±1.7 percentage points margin of error; Chart: Axios Visuals
The city of Richmond, Va., is bracing for potential violence — another “Charlottesville,” in the worst-case scenario — as thousands are expected to converge on the state capitol Monday to protest gun restriction legislation.
Why it matters: On a day that is meant to celebrate what would have been the 91st birthday of civil rights leader Martin Luther King, Jr., the nation is grappling with emboldened white nationalist groups and racial tension. Surveys show a majority of Americans believe race relations are getting worse under President Trump.
Driving the news: Virginia state officials are on edge after learning that militia groups, including some extremists with white supremacist views, were planning a violent attack on Monday, an annual lobbying day for the public to express views at the state capitol. The event is expected to go on but under tight security, with an emergency weapons ban in place.
On Thursday, the FBI arrested three men planning to attend the Richmond rally who have ties to The Base, an anarchist white supremacist group whose aim is to create a white "ethno-state," the New York Times reports.
Gov. Ralph Northam (D) called a state of emergency last week out of concern for public safety, citing intelligence of threats of violence and "extremist rhetoric" similar to Charlottesville.
The FAA has instituted a ban on airspace over the capitol out of concern for aerial threats, including weaponized drones, the Washington Post reports. Organizers of the 2017 "Unite the Right" rally in Charlottesville say they plan to attend Richmond's event Monday, per the Post.
By the numbers: Most black Americans say the president is a racist, according to a Washington Post/Ipsos survey.
Just 2 in 10 black Americans say most white Americans appreciate what discrimination black Americans face.
What they're saying: “[The president] has taken hatred against people of color, in general, from the closet to the front porch,” said one black American, interviewed by the Washington Post.
But, but, but: Is the president really responsible for rising racial tension?
A majority of Americans say he is, according to a survey last year by non-partisan Pew Research Center. But the diverging views between blacks and whites and Democrats and Republicans make it seem as though they are living in different versions of America.
A strong majority of blacks (73%), Hispanics (69%) and Asians (65%) say Trump has made race relations worse, compared with about half of whites (49%), according to the Pew Research Center survey released in April 2019.
Majorities of blacks and Hispanics say that people are more likely to express racist or racially insensitive views since Trump was elected.
More than 8 out of 10 Democrats say the president has made race relations worse; just 1% say he’s improved relations.
More than a third of Republicans say Trump has made progress toward improving race relations. Just 20% say he’s made it worse.
Flashback: In 1965, a majority of Americans supported the Civil Rights Act and sided with protesters in Selma, Ala., but even then support was far from unanimous. After the brutal beatings of civil rights leaders and protesters in Selma, nearly all black Americans said they supported the protesters, but just 46% of white Americans did, according to a Harris poll at the time.
