Trust, like reputation is hard to earn, but easy to lose

“Trust is similar in its fragility. At the individual level, of course, these two concepts (reputation and trust) are inter-related. We trust those who have a trustworthy reputation, and we don’t trust those who are known to be untrustworthy. Once bitten, twice shy, or fool me one time shame on you, fool me again shame…

Tom Duncan

•

March 10, 2010

“Trust is similar in its fragility. At the individual level, of course, these two concepts (reputation and trust) are inter-related. We trust those who have a trustworthy reputation, and we don’t trust those who are known to be untrustworthy. Once bitten, twice shy, or fool me one time shame on you, fool me again shame on me. But trust is also elusive and fragile once found at the system level as well.” Read more.

Trust, like reputation, is hard to earn, but easy to lose

Peter Boettke

Coordination Problem Blog, March 10, 2010.

Tom Duncan

Share This Article

Post on Facebook

Post on X

Print Article

Email Article

Alex Rosado

Will Gen Z Realize Its Future Runs on Fossil Fuels?

Jul 11

Gen Z wants global peace, environmental renewal, low prices, and high-paying jobs. They’ll find all of those rely on a sector they want to “phase out.”
Bryan Cutsinger

Are Tariffs Really Inflationary?

Jul 11

Tariffs can be inflationary if they reduce real economic output, but the size of the effect matters.
David Hebert, Marcus M. Witcher

Reagan’s Trade Gamble: The Story Behind the Voluntary Export Restraints

Jul 10

Reagan’s attempts to suppress car prices ultimately made US-made cars less competitive and reduced employment in American factories.