Big business ranks as the least-trusted institution in the world alongside national parliaments, according to an international public opinion poll released by the World Economic Forum (WEF) on Friday.
About 52% of the 36 000 people questioned in 47 countries
said they had little or no trust in large national companies, while 48% distrusted multinational firms, the poll found.
WEF noted a ”significant” drop in trust in corporations in North America and Europe since the scandal about misleading accounts at a US energy group broke.
Fifty-one percent of those polled distrusted their parliaments, but elected officials had greater credibility in Europe, North America and parts of Asia.
The survey measured levels of trust in the ability of each
institution to act in the best interest of society.
It revealed that people have as much faith in trade unions and the media as in their governments, with about 47% to 50% of those polled saying they had some or a lot of trust in those institutions.
The World Trade Organisation (WTO) achieved a middle ranking, summoning ”little or no trust” among 39% of respondents, and ”trust” with 44%.
A clear majority of people trust non-governmental organisations (NGOs), the United Nations, their health and education systems, police forces and the army.
WEF said the highest trust score attributed to armed forces (69%) was boosted by very high ratings given by people in
countries on heightened alert against terror attacks, including India, Israel, Pakistan and the United States.
”Unless traditional institutions regenerate public trust, people will continue to search for new ways forward,” Doug Miller, of Environics International, one of the pollsters behind the survey, commented.
”The real cost of inaction may be greater system instability and a growing mandate for NGOs and new political parties,” he added.
The survey was conducted by Gallup International. – Sapa-AFP