The human population today worldwide, is much wealthier than has ever been. As per business intelligence shared by the venerable World Bank, there are fewer people living in poverty now than in the year 1820, even though the world population has risen seven times. This however, paints only a small part of the overall picture. This is because of some factors that have done much to erode legitimacy in these macro- claims. The first of these is an asymmetry in income, which has also led to the near wiping out of a viable middle- class. Technological churn has meant large- scale business disruption. Increase in life span has meant increasing demographic pressures. Several governments have been accused of taking up populist measures, especially those with a nationalistic lens, hugely curbing the scope of business growth. And finally, there is the ever- declining trust factor.

Source:https://www.strategy-business.com/article/A-crisis-of-legitimacy?gko=9c234

Uploaded Date:14 October 2019