Loss of trust in institutions has been a major consequence of distributional failures in globalization; because governance and policy changes require collective action and buy-in, widespread loss of trust makes it harder to implement solutions even when they're rationally beneficial to most people.
causalpending
Speaker
Michael SpenceEvidence Quote
“you can't Implement stuff um in terms of governance and policies that drive change you know if everybody's decided that you know to get off the train... there's this you know a massive loss of trust in institutions”
Source
Nobel Prize-Winning Economist Sees Era Of "Permacrisis" Ahead | Michael Spence (w/ Adam Taggart)— Adam Taggart | Thoughtful Money®Created: 8/11/2026, 1:51:12 AM
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