Business has had a disastrous year. Iconic companies have crumbled, profits have evaporated and unemployment has grown rapidly. Pundits have mourned the bleak state of trust in business and governments. What has been mourned has now been measured.

According to the 10th Edelman Trust Barometer, which surveyed 4,500 upper income, highly educated people in 20 countries, nearly two-thirds (62 per cent) say they trust corporations less today than they did a year ago. In the US, home of some of the greatest corporate collapses, the survey recorded the most dramatic plunge: only 38 per cent say they trust business to do what is right (a 20 per cent drop from last year) and just 17 per cent say they trust the information they get from a company’s CEO.