Barely two in five people believe their families will be better off in the future, according to a regular global survey that also identified growing levels of distrust in institutions among low-income households.
The Edelman Trust Barometer, which for over two decades has polled the attitudes of thousands of people, found that economic pessimism was at its highest in some of the world’s top economies such as the United States, Britain, Germany, and Japan.
“We saw it in the pandemic because of differential outcomes in terms of health, now we see it in terms of the impact of inflation,” he added. The World Health Organization and others have noted the higher toll of the pandemic on the poor, while those on low incomes suffer most from costlier basic items.
Such anxieties reflect deep uncertainty about the state of the global economy as the Ukraine war continues and central banks hike their lending rates to tame inflation. The World Bank on Tuesday warned it could tip into recession this year. While such attitudes inevitably reflect current events, the ebbing of trust in government in particular has been a key theme of the survey for several years, with its trust levels this year sharply lower than relatively healthy ones scored by business.
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