Issue Institutional trust is falling and historically hard to rebuild

Summary

Trust in institutions such as governments, companies, media, universities and NGOs has been weakening across many countries, though unevenly. With some exceptions, it is highest in low-income countries and lowest in high-income ones. Business is still the most trusted institution in many places, but the latest Edelman survey recorded falls in trust in business and in people's own employers, the latter for the first time in 26 years of tracking. EY treats these modest declines as a possible warning sign, since institutional trust has historically been very hard to restore once lost. The 2008 financial crisis is cited as proof of how fast it can collapse and how slowly it recovers, leaving leaders possibly one breach away from a trust collapse.