Trustworthiness as a Moral Determinant of Economic Activity: Lessons from the Classics
This paper reviews the way that social norms and ethical values in general, and trustworthiness in particular, is perceived to affect the behavior of economic agents in view of the work of Adam Smith, Nassau William Senior and John Stuart Mill. Classical Political economists held that economic actions are context-dependent and thus constantly under the influence of social norms and values. It is further suggested here that Classical Economists had established that trustworthiness acts as a general ethical precondition for the efficient behaviour of the markets and an important asset of the national social capital.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 39 (2010)
Issue (Month): 3 (October)
|Contact details of provider:|| Web page: http://www.springer.com/economics/journal/12143|
|Order Information:||Web: http://link.springer.de/orders.htm|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fehr, Ernst, 2008.
"On the Economics and Biology of Trust,"
IZA Discussion Papers
3895, Institute for the Study of Labor (IZA).
- Ernst Fehr, 2008. "On the Economics and Biology of Trust," SOEPpapers on Multidisciplinary Panel Data Research 154, DIW Berlin, The German Socio-Economic Panel (SOEP).
- Ernst Fehr, 2009. "On the economics and biology of trust," IEW - Working Papers 399, Institute for Empirical Research in Economics - University of Zurich.
- Ernst Fehr & Simon Gaechter, 2000.
"Fairness and Retaliation: The Economics of Reciprocity,"
CESifo Working Paper Series
336, CESifo Group Munich.
- Ernst Fehr & Simon G�chter, 2000. "Fairness and Retaliation: The Economics of Reciprocity," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 159-181, Summer.
- Ernst Fehr & Simon Gaechter, . "Fairness and Retaliation: The Economics of Reciprocitys," IEW - Working Papers 040, Institute for Empirical Research in Economics - University of Zurich.
- Robert Rowthorn & Rajiv Sethi, 2008. "Procedural Rationality and Equilibrium Trust," Economic Journal, Royal Economic Society, vol. 118(530), pages 889-905, 07.
- Fontaine, Philippe, 1997. "Identification and Economic Behavior Sympathy and Empathy in Historical Perspective," Economics and Philosophy, Cambridge University Press, vol. 13(02), pages 261-280, October.
- Sen, Amartya, 2005. "Why Exactly Is Commitment Important For Rationality?," Economics and Philosophy, Cambridge University Press, vol. 21(01), pages 5-14, April.
- Jerry Evensky, 2001. "Adam Smith’s Lost Legacy," Southern Economic Journal, Southern Economic Association, vol. 67(3), pages 497-517, January.
- Joseph Persky, 1995. "The Ethology of Homo Economicus," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 221-231, Spring.
- Nooteboom, Bart, 1995. "Trust, opportunism and governance," Research Report 95B34, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- Nooteboom, B., 2006.
"Social Capital, Institutions and Trust,"
2006-35, Tilburg University, Center for Economic Research.
- Etzioni, Amitai, 1986. "The Case for a Multiple-Utility Conception," Economics and Philosophy, Cambridge University Press, vol. 2(02), pages 159-184, October.
- Hodgson, Geoffrey M, 1997. "The Ubiquity of Habits and Rules," Cambridge Journal of Economics, Oxford University Press, vol. 21(6), pages 663-84, November.
- Eric M. Uslaner, 2008. "The foundations of trust: macro and micro," Cambridge Journal of Economics, Oxford University Press, vol. 32(2), pages 289-294, March.
- Zak, Paul J & Knack, Stephen, 2001. "Trust and Growth," Economic Journal, Royal Economic Society, vol. 111(470), pages 295-321, April.
- Harvey James, 2002. "The Trust Paradox: A Survey of Economic Inquiries Into the Nature of Trust and Trustworthiness," Microeconomics 0202001, EconWPA.
- Hausman, Daniel M., 2002. "Trustworthiness and self-interest," Journal of Banking & Finance, Elsevier, vol. 26(9), pages 1767-1783, September.
- James Jr., Harvey S., 2002. "The trust paradox: a survey of economic inquiries into the nature of trust and trustworthiness," Journal of Economic Behavior & Organization, Elsevier, vol. 47(3), pages 291-307, March.
- Bruni, Luigino & Sugden, Robert, 2008. "Fraternity: Why The Market Need Not Be A Morally Free Zone," Economics and Philosophy, Cambridge University Press, vol. 24(01), pages 35-64, March.
- Bruni, Luigino & Sugden, Robert, 2000. "Moral canals: trust and social capital in the work of Hume, Smith and Genovesi," Economics and Philosophy, Cambridge University Press, vol. 16(01), pages 21-45, April.
When requesting a correction, please mention this item's handle: RePEc:spr:fosoec:v:39:y:2010:i:3:p:209-221. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn)or (Christopher F Baum)
If references are entirely missing, you can add them using this form.