A global survey out Monday ahead of the World Economic Forum summit in Davos shows that over half of respondents believe capitalism in its current form does “more harm than good.”
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“Welp, glad that’s settled then,” mused one Twitter user.
The findings are from the 2019 Edelman Trust Barometer, which polled over 34,000 respondents in 28 markets to measure trust in government, business, NGOs, and media.
Fifty-six percent of respondents said they agree with statement, “Capitalism as it exists today does more harm than good in the world.” That belief was expressed by a majority across age group, gender, and income level divides. In fact, there were just six markets were the majority of respondents did not agree—Australia, Canada, the U.S., South Korea, Hong Kong, and Japan.
Strongest support for the statement was found in Thailand (75 percent) and the lowest level in Japan (35 percent). In the U.S., just 47 percent agreed with the statement.
The survey also found that 48 percent of respondents believe the system is failing them, while just 18 percent believe it is working for them.
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