Most People in the World Are Disappointed in Capitalism
OREANDA-NEWS. According to the report of the Edelman Trust Barometer study conducted in autumn of 2019, most people in the world have lost trust in the benefits of capitalism and are afraid that Western democracy is losing its effectiveness. More than 34 thousand people in 28 countries were interviewed, and 56 % of them agreed that capitalism in its current form does more harm than good.
The share of pessimists is especially high in Thailand (75 %) and India (74 %). However, more than half of the respondents in the prosperous countries, such as France (69 %), Italy (61 %), Spain (60 %), the Netherlands (59 %), Ireland (57 %), Germany (55 %), Singapore (54 %) and the United Kingdom (53 %), expressed their disappointment in modern capitalism.The authors of the study believe that the reason for the decline in confidence is the growth of inequality and people’s fear for their future. On average, 47 % believe that in five years their families will live better than now. The highest share of optimists is registered in Kenya (90 %), Indonesia (80 %) and India (77 %). In some developed countries, the proportion of optimists is rather low: in Japan 15 %, in France 19 %, in Germany 23 %, in the UK 27 %, in Italy 29 %.