VoxTalks Economics S8 Ep25: Growth and trust in government
May 16, 2025
Tim Besley, a Professor of Economics at the London School of Economics, dives deep into the relationship between economic growth and trust in government. He explores how long-term growth consistently builds trust across generations. The discussion highlights the impact of recent economic experiences on perceptions of trust, revealing cognitive biases at play. Besley contrasts various countries, examining how factors like transparency influence trust levels, especially among different age groups, shedding light on what truly inspires confidence in governance.
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Growth Influences Government Trust
- People’s trust in government is strongly linked to the economic growth they have experienced over their lifetime.
- Trust reflects perceptions reacting to growth outcomes, possibly as a signal of effective government performance.
Recency Bias in Trust Formation
- People show recency bias, weighting recent growth more heavily when judging trust in government.
- This fits with how individuals remember recent economic experiences better than distant ones.
Robust Survey Data on Trust
- Combining 11 harmonized global surveys provides a robust picture of trust linked to growth.
- The findings remain consistent even when using the largest single survey, Gallup World Poll.