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Trust, confidence and economic crisis

Tonkiss, Fran (2009) Trust, confidence and economic crisis. Intereconomics, 44 (4). pp. 196-202. ISSN 0020-5346

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Abstract

This article explores the role of trust and confidence in economic life, and their relevance to the current financial crisis. It outlines a recent history of research and debate on the relationship between social trust and economic prosperity, before introducing more recent data on trust against the backdrop of the financial downturn. It goes on to distinguish the informal and social bases of trust from three key formal mechanisms of economic confidence (information, contract, regulation), linking this distinction to Akerlof and Shiller’s revival of Keynes’ discussion of the “animal spirits” that animate economic behaviour. Finally the policy dimensions are considered.

Item Type: Article
Official URL: http://www.intereconomics.eu/
Additional Information: © 2009 Springer
Library of Congress subject classification: H Social Sciences > HB Economic Theory
Sets: Departments > Sociology
Research centres and groups > LSE Cities (Cities Programme)
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 04 Mar 2010 15:55
URL: http://eprints.lse.ac.uk/27265/

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