This volume explores the foundations of trust, and whether social and political trust have common roots. Contributions by noted scholars examine how we measure trust, the cultural and social psychological roots of trust, the foundations of political trust, and how trust concerns the law, the economy, elections, international relations, corruption, and cooperation, among myriad societal factors. The rich assortment of essays on these themes addresses questions such as: How does national identity shape trust, and how does trust form in developing countries and in new democracies? Are minority groups less trusting than the dominant group in a society? Do immigrants adapt to the trust levels of their host countries? Does group interaction build trust? Does the welfare state promote trust and, in turn, does trust lead to greater well-being and to better health outcomes? The Oxford Handbook of Social and Political Trust considers these and other questions of critical importance for current scholarly investigations of trust.

In just one generation, South Korea has transformed from a recipient of foreign aid to a member of the G20. In this informative book, South Korea is used as a case by which to explore and illustrate specific issues arising from the complex relationships between the nation’s economic development and society. p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 10.0px Arial}

The bestselling author of The End of History explains the social principles of economic life and tells readers what they need to know to win the coming struggle for global economic dominance.

PDF available for free on http://martenscentre.eu/publications/trusting-europe-how-increased-social-capital-can-contribute-economic-development This report surveys recent works in political economy showing that trust and civic capital more generally matter for various aspects of economic well-being and presents new evidence from European countries showing that trust has deteriorated considerably in those European countries that have been affected the most by the ongoing economic downturn. We also discuss policy recommendations. The key message is that because trust and social capital matter crucially for economic and institutional development, countries must both monitor developments closely and pursue policies that cultivate civic social capital. Given strong inertia, changing people's beliefs and promoting civic engagement will not occur overnight. Targeted policies can increase civicness and promote social capital considerably. First, promoting education seems crucial as, a higher level of education cultivates social capital. Second, countries where primary and secondary education are based on lecturing and memorising, should alter the curriculum towards more group activities, team projects, and critical thinking based on a dialectic method. Third, policymakers should continue promoting the outward orientation of the economy and the removal of administrative barriers to entry that fuel corruption and impede competition.

Have economists neglected trust? The economy is fundamentally a network of relationships built on mutual expectations. More than that, trust is the glue that holds civilization together. Every time we interact with another person—to make a purchase, work on a project, or share a living space—we rely on trust. Institutions and relationships function because people place confidence in them. Retailers seek to become trusted brands; employers put their trust in their employees; and democracy works only when we trust our government. Benjamin Ho reveals the surprising importance of trust to how we understand our day-to-day economic lives. Starting with the earliest societies and proceeding through the evolution of the modern economy, he explores its role across an astonishing range of institutions and practices. From contracts and banking to blockchain and the sharing economy to health care and climate change, Ho shows how trust shapes the workings of the world. He provides an accessible account of how economists have applied the mathematical tools of game theory and the experimental methods of behavioral economics to bring rigor to understanding trust. Bringing together insights from decades of research in an approachable format, Why Trust Matters shows how a concept that we rarely associate with the discipline of economics is central to the social systems that govern our lives.

In order for economic specialization to develop, it is important that well-defined property rights are established and that suspicion and fear of fraud do not pervade transactions. Such conditions cannot be created ex abrubto, but must somehow evolve. What needs to develop is not only suitable practices and rules themselves, but also the public agencies and moral environment without which generalized trust is difficult to establish. The cultural endowment of societies as they have developed over their particular histories is bound to play a major role in this regard, and the matter of cultual endowment is one of the central themes of this book. On the other hand, division of labour does not only require well-enforced property rights and trust in economic dealings. It is also critically conditioned by the thickness of economic space, itself dependent on population density. This provides the second major theme of the volume: market development, including the development of private property rights is not possible, or will remain very incomplete, if populations are thinly spread over large areas of land. The book makes special reference to sub-Saharan Africa.

This chapter provides a selective survey of the literature on the association between social trust and economic growth. The chapter is divided into two main sections. The first section outlines the main theoretical arguments for how social trust could affect the long-run growth rate and economic performance of the economy. These theoretical mechanisms can both be direct or work indirectly through affecting institutions, factor accumulation and the elasticity of substitution. An overview of a set of relevant theoretical mechanisms also reveals that some only affect growth under specific conditions. The second section is devoted to reviewing the evidence of an empirical association. While the literature clearly supports a causal effect of trust on growth, the empirical section as well as the conclusions suggest a number of ways in which the field may move forward.