So it is a matter of concern that trust has become an increasingly rare commodity. In the US, there has been a precipitous drop in faith in the government. Almost four out of five Americans trusted Washington to do the right thing when Eisenhower and John F Kennedy were in the White House. Under Donald Trump, that has fallen to one in five. In Britain, Theresa May is trying to finesse a Brexit deal at a time when parliament is even less trusted than the banks. By a distance, the most trusted institution in the UK is the military. We don’t trust big business, we don’t trust the City, we don’t trust the newspapers – and we certainly don’t trust politicians.
Nor is this simply a reaction to the financial crisis of a decade ago, although it certainly has not helped that the supposedly perfect model of free-market capitalism constructed before the crash was based on erroneous assumptions
When Milton Friedman famously said it was the duty of corporate executives to make as much money as possible,