 ValueDonatella Padua
Chapter 3 in John Maynard Keynes and the Economy of Trust: The Relevance of the Keynesian Social Thought in a Global Society, 2014, pp 63-87 from Palgrave Macmillan Abstract: Abstract Why does trust collapse during crises? What are the consequences? How is it possible to build value based on trust? Padua attempts to provide answers via the original concept of ‘Economy of Trust’, or the process of value building though a prevalent trust component in complex socio-economic systems, accelerated by speculative contexts and in conditions of uncertainty. The Economy of Trust, reflecting the economic context within the current 2008 recession through the social behaviour of the individual, contains the essence of Keynesian thought. It builds value by replacing guarantees in deregulated contexts and in situations of loss of institutional power. There are five sociological reasons behind the development of the Economy of Trust in a Nominal economy: uncertainty, irrationality, speculation, complexity and stories. Keywords: 2008 crisis and recession; building value through trust; complex socio-economic systems; speculation; stories; uncertainty and irrationality in economics (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-46723-2_4 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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