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Illustration: Rebecca Zisser/Axios

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." and the 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.”

Go deeper

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Education: Schools face an uphill battle to reopen during the pandemic.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong puts tens of thousands on lockdown as cases surge — Pfizer to supply 40 million vaccine doses to lower-income countries — Brazil begins distributing AstraZeneca vaccine.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

DOJ: Capitol rioter threatened to "assassinate" Alexandria Ocasio-Cortez

Supporters of former President Trump storm the U.S. Captiol on Jan. 6. Photo: Kent Nishimura / Los Angeles Times via Getty Images

A Texas man who has been charged with storming the U.S. Capitol in the deadly Jan. 6 siege posted death threats against Rep. Alexandria Ocasio-Cortez (D-N.Y.), the Department of Justice said.

The big picture: Garret Miller faces five charges in connection to the riot by supporters of former President Trump, including violent entry and disorderly conduct on Capitol grounds and making threats. According to court documents, Miller posted violent threats online the day of the siege, including tweeting “Assassinate AOC.”

Schumer calls for IG probe into alleged plan by Trump, DOJ lawyer to oust acting AG

Jeffrey Clark speaks next to Deputy US Attorney General Jeffrey Rosen at a news conference in October. Photo: Yuri Gripas/AFP via Getty Images.

Senate Majority Leader Chuck Schumer (D-N.Y.) on Saturday called for the Justice Department inspector general to investigate an alleged plan by former President Trump and a DOJ lawyer to remove the acting attorney general and replace him with someone more willing to investigate unfounded claims of election fraud.

Driving the news: The New York Times first reported Friday that the lawyer, Jeffrey Clark, allegedly devised "ways to cast doubt on the election results and to bolster Mr. Trump’s continuing legal battles and the pressure on Georgia politicians. Because Mr. [Jeffrey] Rosen had refused the president’s entreaties to carry out those plans, Mr. Trump was about to decide whether to fire Mr. Rosen and replace him with Mr. Clark."