After the crisis: How to restore trust in business and finance

Abstract

ABSTRACTOver the last decade, many people around the globe have become progressively disillusioned with capitalist democracy and above all with the world of business and finance. I use U.S. data to illustrate the loss of confidence, and I examine how the public has changed its views about business, financial institutions, government, regulation and globalization. On the whole, there is now a leftward cultural trend in the United States. Society cannot move forward without at least partly restoring public trust. Useful steps that heads of business, financial leaders, and policy-makers can take are discussed.