Quote (duffman316 @ 11 Feb 2020 13:35)
Seems like there's a trend in people believing that hard work will not make their lives better and that improved economic growth won't make their lives better. A very bleak outlook, what do our resident pardians make of this issue?
https://www.abc.net.au/triplej/programs/hack/2020-edelman-trust-barometer-shows-growing-sense-of-inequality/11883788?fbclid=IwAR09iusXpbCQ6BM5Fmsk4MVBN3OWIk2L5E8UbQKFwjg6nWpLHKgMGP2UTfMThe 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.
"Since we began measuring trust 20 years ago, economic growth has fostered rising trust. This continues in Asia and the Middle East but not in developed markets, where national income inequality is now the more important factor.
Not surprising at all, since an increasing share of the population sees no personal gains whatsoever from economic growth. "Jobless growth" has been a buzzword for nearly 20 years, and so is growth that doesnt raise net wages. Basic living expenses grow faster than wages for a big number of people, so even if their wage grows, they're still worse off. Why should this kind of growth increase their trust in the economy or the future then?
This is not a trust paradox, it's a well-justified loss of trust.
This post was edited by Black XistenZ on Feb 11 2020 12:55pm