Government is the world’s least-trusted institution, falling again in trust for the third year in a row, according to Elisa Martinuzzi of Bloomberg.com.
In the Trust Barometer Survey published just prior to the 2014 World Economic Forum in Davos, Switzerland, trust in governments dropped from 48 percent 44 percent in 2013. Edelman, a public-relations firm, conducted the study.
The trust in business remained at about 58 percent, the widest advantage over government in the 14-year history of the poll.
Governments continue to struggle with public trust, especially in light of record European unemployment and security contractor Edward Snowden’s disclosures of U.S. spying programs. As a result, American trust in government plunged 16 points down to 37 percent, Martinuzzi writes.
“This is a profound evolution in the landscape of trust from 2009 where business had to partner with government to regain trust, to today, where business must lead the debate for change,” said Edelman chair and CEO Richard Edelman.
Nearly 43 percent say they trust CEOs much higher than the 36 percent who say they have faith government officials, the survey revealed. Belief in media slipped 5 points, down to 52 percent.
For four years now, the least trusted industries were banks and financial services, scoring 51 percent, up only 1 percent from 2013. Topping the list were technology companies, ranked again at 79 percent, up 2 percentage points from last year.
The survey contacted 6,000 college-educated individuals in 27 countries, each person having a household income in the top quartile for both their age and country. Those surveyed range in age from 24 to 65.