The CCA Trust Series – 2 – Trust and Economic Anxiety

Trust shapes all of our relationships, whether personal or corporate. In the second installment of this series on trust by Creating Communities Australia, we consider how economic anxiety is shaping our trust relationship with institutions, government, and business.

The CCA Trust Series – 2 – Trust and Economic Anxiety

Trust shapes all of our relationships, whether personal or corporate. In the second installment of this series on trust by Creating Communities Australia, we consider how economic anxiety is shaping our trust relationship with institutions, government, and business.

It comes as no surprise that economic anxiety shapes trust. When interest rates rise for the tenth consecutive time, and mortgage stress affects increasing pockets of society, it is reasonable to question the wisdom of monetary policy. To wonder whether the institutions announcing these fiscal changes can be trusted.

Anxiety does not always follow rational paths and economic anxiety is no different. While we may accept that certain policies are ‘necessary for the nation’, the notion doesn’t make it more palatable for the individual.

In a study across 28 countries (including Australia) with 32,000 respondent, Edelman Research examined the fluctuating levels of trust in political, business and institutional spaces. These findings have contributed to an annual Trust Barometer now in its twenty-third year.

The 2022 barometer highlighted that economic optimism is collapsing all around the world with 24 of 28 responding countries seeing all time lows, in the number of people who think their families will be better off in five years.

What substantially shapes this anxiety is facing these economic fears without a safety net.

The antidote to polarisation is the continued invitation to the table to celebrate and springboard from what we share in common: our humanity. Our desire for connection, for equity, and for ensuring the provision of basic and higher levels needs for community should never wane. It’s a driving motivator in all the work we do.

Trust shapes who we believe, who we follow, the relationships we form, and the social media we consume. It shapes our work and financial decisions and our confidence in leaders and institutions....
As part of our series on trust and the navigating of a polarised world, we caught up with Chief Executive Officer of JYAC (Jamukurnu-Yapalikurnu Aboriginal Corporation), Tony McRae, for insights into how trust is amplified or diminished within some of the communities with which he works....