An explanation that lack of trust, and lack of understanding about how trust operates, can impede economic activity and erode quality of life.
Written in 2005; 2,098 words; 4 sources; MLA; $ 65.95
Paper Summary:
The paper explains that trust is a key enabler of cooperative human actions. The writer shows that the intensified studies on trust in many relevant fields, in effect recognize the importance of cooperative behavior to the success of any human endeavor and, consequently, to the success or failure of an organization. The writer describes how it was found that trust leads two other basic mechanisms by which such cooperation can be achieved in human behavior, the other two being power and the market. In conclusion, the writer cites examples where trust of employees has brought about innovation and improved economic efficiency. The writer states that the lack of trust can have adverse consequences.
Table of Contents:
Trust
Socio-Economic View
References
From the Paper:
"When Hong Kong was scheduled to revert back to China on July 1, 1977 under an agreement signed between the British and the Chinese in 1984, there was great concern and fear among the populace of Hong Kong. The handover was announced to the world at least five years before. So during this entire period, the thought uppermost in people's mind was: What will it be like when the People's Liberation Army or the Red Guard, in whose hands the blood of the 1989 massacre in Tiananmen Square was still fresh, cross the border bridge at Lo Wu?"
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