Posted on 01/20/2020 7:17:55 AM PST by Oldeconomybuyer
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.
“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 as Middle East and Asia, the survey found that rising inequality in many rich countries has contributed to a weakening in trust in capitalism.
Corruption, corporate misbehavior and fake news are eroding trust, Edelman said, as are fears over automation in the workplace, a lack of training, immigration and the gig economy. According to the survey, 83% of employees globally are concerned about their jobs.
Business and NGOs are the institutions that people most trust to deal with global issues, a blow to governments riven by populist and partisan politics.
Climate issues are among the most important, and business leaders can no longer brush aside consumer concerns as brands can be quickly tarnished if they are deemed to be unethical.
The survey involved 30-minute online interviews in 28 countries between Oct. 19 and Nov. 18 with more than 34,000 people worldwide.
(Excerpt) Read more at apnews.com ...
Bunk !
What do CNN and MSNBC have to say about that?
I am just asking : the IMF pawn yesterday was spewing 1920’s boom/ great depresion comparison.
No doubt to show Trump growth is just evil no shock there.
Question is , the planet earth makes about 60 T a year,
the outstanding debt in various form is 150T (forget exact)
The banks turned that debt into 4.5 Quadrillion of derivatives...
So how and who pays for this, or do we just don’t pay it...
how does any of this work...
The Spoiled Brats who had their lives handed to them are going to morph into the Khamir Rouge.
Gee, more putsch-polls paid for and commissioned by liars, lefties and Marxists.
If you want to see inequality, try socialism. A few elite at the top are filthy rich and everybody else is dirt poor.
I always turn to the A Pee for profound insight. Pan Pylas? For real?
"What the honorable member is saying is that he would rather that the poor were poorer, provided that the rich were less rich. So long as the gap is smaller, they would rather have the poor poorer. You do not create wealth and opportunity that way. You do not create a property-owning democracy that way.”
So let’s all be gulag slaves so that Bill Gates won’t have more than me. That’s the ticket!
What a bunch of f*ing morons.
And I’m talking about the teachers who teach this crap to America.
Do AP, msnVD, cnn, wa post et. al. really keep straight faces when they post these articles? :)
Capitalism has saved more lives than anything else in history, I would guess.
Has it damaged or even taken lives? Sure. That’s why LIMITED oversight is needed
But the overall balance sheet isn’t even close.
No! It’s true! Communism wins, every time! People live longer under Communism. There is less crime and there are more college graduates per capita. Income is better, as is the quality of medicine and the standard of living! More choices are available than under Capitalism.
And the best part.. if you change your mind, you can always tell your government you want to change to something else, though, who would want to?
Come on Bernie! Bring it to us!
Luckily most are obese cant walk
Then get to work and stop importing uneducated “refugees” so you can claim there’s an “income gap”.
Did Edelman jet over to Davos this year?
I think it’s the rising AWARENESS of iniquity that is the problem. I used to say, 40 years ago, that thanks to TV, the poor are exposed to a constant barrage of commercials for products they can’t afford. It creates other problems (credit crisis) but the bottom line is that if it is thrown in your face on an hourly basis what others can have, but you can’t, and done in a way to increase your desire for the items, it is a recipe for eventual civil unrest.
Somebody surveyed people?
And these “people” believed businesses and NGO’s would save us?
Crap. 99 percent of the population couldn’t tell you want ngo even meant!
Good points.
I think part of this is also, that students in school, and people in general, aren’t educated about how capitalism works, and how they can benefit from same. For example, people may complain that life is unfair, it’s unfair that Bill Gates is rich, without understanding how he became rich. He and his people at Microsoft worked very hard, to develop products which most of the world would buy for their computer systems. Some seem to think that people such as him made fortunes illegally.
how does any of this work...
AP (”All Propaganda”) doesn’t understand and/or doesn’t want you to understand that freedom and the free market (not the Marxist term “capitalism”) don’t guarantee equality in results. However, the market free from government interference offers a great deal of equality in opportunity to enter and engage in the marketplace.
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