- Trust: The Social Virtues and the Creation of Prosperity | Foreign Affairs
- Trust: The Social Virtues And the Creation of Prosperity: New Foundations of Global Prosperity
- Trust: The Social Virtues and the Creation of Prosperity
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Trust: The Social Virtues and the Creation of Prosperity | Foreign Affairs
Trust: The Social Virtues And the Creation of Prosperity: New Foundations of Global Prosperity
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While conceding that neoclassical economists have uncovered important truths about markets and money, the RAND Corp. In search of links missed by these practioners of the dismal science, Fukuyama probes the impact of culture broadly speaking, any society's inherited ethical habits on economic life.
Focusing on such factors as trust a community's shared expectation of honest, cooperative behavior outside the family and social capital the values created by tradition, religion, or other means , the author examines the ability of various peoples to organize effectively for commercial purposes without relying on blood ties or government intervention.
These reserves are important, he points out, because market-oriented societies in which there is a high degree of moral consensus and cooperation have lower transaction costs and hence greater competitiveness.
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Trust: The Social Virtues and the Creation of Prosperity
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Trust: The Social Virtues and the Creation of Prosperity Francis Fukuyama reveals the unique importance social capital, and trust in particular, plays in economic relations. Briefcase Print Send.
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