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Capitalism Draws Fire, Despite Strong Global Economy. #EdelmanTrustBarometer

Monday, 20 January, 2020, 21:25
Capitalism Draws Fire, Despite Strong Global Economy. #EdelmanTrustBarometer

A majority of people around the world believe capitalism in its current form is doing more harm than good, a survey found ahead of this week's Davos meeting of business and political leaders.

This year was the first time the "Edelman Trust Barometer" sought to understand how capitalism itself was viewed.

For two decades Edelman has polled tens of thousands of people on their trust in core institutions

The study's authors said that earlier surveys showing a rising sense of inequality prompted them to ask whether citizens were now starting to have more fundamental doubts about the capitalist-based democracies of the West.

"The answer is yes," David Bersoff, lead researcher on the study produced by US communications company Edelman.

"People are questioning at that level whether what we have today, and the world we live in today, is optimised for their having a good future," he added.

The poll contacted over 34,000 people in 28 countries, from Western liberal democracies like the US and France to those based on a different model such as China and Russia.

56% agreed that "capitalism as it exists today does more harm than good in the world".