That's according to Edelman's newly released 2017 Trust Barometer.
Trust "is now the deciding factor in whether a society can function," says Richard Edelman, president and CEO.
And trust has a gaping rip in its side.
According to the survey, 53% of people distrust institutions;and 32% are unsure of them. Over 75% believe they serve only the rich.
"Trust in institutions has evaporated to such an extent that falsehood can be misconstrued as fact, strength as intelligence, and self-interest as social compact," Edelman says.
The root causes are globalization and automation, which continue to eliminate jobs.
Can someone save our ship?
Edelman believes business, "the one institution that retains some trust," can.
But "business must get out in front and become an effective advocate on policy, moving away from lobbying toward direct public discourse that provides context on trade, immigration and innovation, outlining both benefits and disadvantages."
He also thinks social media can rescue us.
"Company-owned social media channels should supplement mainstream media to educate and to encourage dialogue. Business should provide citizens with platforms that invite them to help shape policy—giving them a positive outlet for their views and fears."
I'm not so sure. For my money, I'd bet our rescuers will be:
- Entrepreneurs, whose aim isn't to shed jobs, but create them
- Teachers, whose aim is to produce useful citizens
- Writers, whose aim is to inform
- Artists, whose aim is to inspire; and
- Philosophers, whose aim is to help us distinguish truth from lies
Who do you count on?
