Book contents
- Frontmatter
- Contents
- List of figures
- List of tables
- Notes on contributors
- Preface: discovering new territory in public trust in business
- Acknowledgments
- 1 Public trust in business: what’s the problem and why does it matter?
- Part I Trusting the institution of business
- 2 The economic crisis of 2008, trust in government, and generalized trust
- 3 Too big to trust? Managing stakeholder trust in business in the post-bail-out economy
- 4 At the crossroads of trust and distrust: skepticism and ambivalence toward business
- 5 Public trust in business and its determinants
- 6 The role of public, relational, and organizational trust in economic affairs
- Part II Public trust and business organizations
- Index
- References
2 - The economic crisis of 2008, trust in government, and generalized trust
Published online by Cambridge University Press: 05 July 2014
Book contents
- Frontmatter
- Contents
- List of figures
- List of tables
- Notes on contributors
- Preface: discovering new territory in public trust in business
- Acknowledgments
- 1 Public trust in business: what’s the problem and why does it matter?
- Part I Trusting the institution of business
- 2 The economic crisis of 2008, trust in government, and generalized trust
- 3 Too big to trust? Managing stakeholder trust in business in the post-bail-out economy
- 4 At the crossroads of trust and distrust: skepticism and ambivalence toward business
- 5 Public trust in business and its determinants
- 6 The role of public, relational, and organizational trust in economic affairs
- Part II Public trust and business organizations
- Index
- References
Summary
EXECUTIVE SUMMARY
the situation
The global economic crisis of 2008 damaged trust in the institutions of business and government among the American public. The Tea Party in particular stands out as a political movement that responded by viewing both big business and big government as being at fault.
key questions
Was the economic crisis responsible for reducing trust either in government or in other people more generally? What factors shape different forms of trust? How does survey data contribute to our understanding of political movements (such as the Tea Party movement) with respect to trust in institutions?
new knowledge
When survey researchers ask whether “most people can be trusted,” respondents interpret this question as referring to strangers, not to people we know people we know. They do not tend to see the question as reflecting their life experiences, but rather as reflecting a general worldview. However, trust in people we know and people we don’t know are not the same thing, nor can we readily move from the former to the latter.
- Type
- Chapter
- Information
- Public Trust in Business , pp. 19 - 50Publisher: Cambridge University PressPrint publication year: 2014
References
, , , , and (2005), Losers’ Consent: Elections and Democratic Legitimacy. New York: Oxford University Press.CrossRefGoogle Scholar
, , and (2011), ‘The Tea Party and congressional representation: tracking the influence of activists, groups, and elites,’ unpublished paper, Georgetown University Department of Government, accessed July 8, 2011. ,.
. 2009. “Broken trust shakes web from farmer to cow,” New York Times (March 23), A9, A13.
. 2010. ‘Washington whispers: Rick Santelli gets credit for Tea Party movement,’ US News and World Report (January 25), (accessed July 7, 2011).
. 2010. “Why liberals don’t get the Tea Party movement,” Wall Street Journal (October 16), (accessed July 11, 2011).
, , and (2011), “The 2010 elections: why did political science forecasts go awry?,” PS: Political Science and Politics, 44, 247–250.Google Scholar
(1974). “Comment: the political relevance of trust in government,” American Political Science Review, 68, 973–988.CrossRefGoogle Scholar
Economist (2009). “Coming down to earth” (March 28), 28–30.
(2010), ‘A trust-driven financial crisis, implications for the future of financial markets.’ EUI Working Paper ECO 2010/07, European University Institute, (accessed July 8, 2011).
(1998), ‘The political relevance of political trust.’ American Political Science Review, 92, 791–808.CrossRefGoogle Scholar
(2004), Why Trust Matters: Declining Political Trust and the Demise of American Liberalism. Princeton, NJ: Princeton University Press.Google Scholar
(2011), ‘The Republican resurgence in 2010.’ Political Science Quarterly, 126:27–52.CrossRefGoogle Scholar
and (2002), ‘Lack of confidence in the federal government and the ownership of firearms.’ Social Science Quarterly, 82, 77–88.CrossRefGoogle Scholar
, , , and (2011), ‘Tea time in America? The impact of the Tea Party movement on the 2010 midterm elections.’ PS: Political Science and Politics, 44, 303–309.Google Scholar
, , and (2008), Young Voters in the 2008 Election. Pew Research Center Publications, (accessed July 12, 2011).Google Scholar
and (1979), ‘Economic discontent and political behavior: the role of personal grievances and collective economic judgments in congressional voting.’ American Journal of Political Science, 23 (August), 495–527.CrossRefGoogle Scholar
and (2010), ‘Republican plan: no compromise with the Democrats,’ (accessed July 7, 2011).
and (1983), The Confidence Gap: Business, Labor, and Government in the Public Mind. New York: Free Press.Google Scholar
and (2011), ‘When one vote matters: the electoral impact of roll call votes in the 2010 congressional elections.’ Presented at the Annual Meeting of the Midwest Political Science Association, Chicago, April.Google Scholar
(2010), ‘Comments on bank failure/regulation/inequality chart,’ (accessed July 10, 2011).
(2010), The People and Their Government: Distrust, Discontent, Anger, and Partisan Rancor. Washington, April 18, (accessed July 7, 2011).Google Scholar
and (1992), Mobilization, Participation, and Democracy in America. New York: Macmillan.Google Scholar
and (2009), ‘Anger over firm depletes Obama’s political capital,’ Washington Post (March 17), A1, A5.
(2010), “Income Inequality and Financial Crises,” New York Times (August 21), 2011 (accessed July 10).
(2000), ‘Is the Senate more civil than the House?’ In (ed.), Esteemed Colleagues: Civility and Deliberation in the SenateWashington, DC: Brookings Institution.Google Scholar
(2011), ‘Trust and the economic crisis of 2008.’ Corporate Reputation Review, 13, 110–123.CrossRefGoogle Scholar
In press (a) ‘The generalized trust questions in the 2006 Anes Pilot Study.’ In and (eds.), Improving Public Opinion Surveys: Interdisciplinary Innovation and the American National Election Studies. Princeton, NJ: Princeton University Press.
In press (b) “Measuring interpersonal trust: in defense of the standard question.” In , , , and (eds.), Handbook of Research Methods on Trust. London: Edward Elgar.
(2011), “Income gap widens as executives prosper,” Washington Post (June 19), A1, A16–A17.Google Scholar
(2010), “State attorneys general sue over health bill,” (accessed July 11, 2011).
- 5
- Cited by