Individually rational choices can yield collective disaster when trust is monopolized

Evidence

The collective disaster that is likely to follow from these individually rational premises ~ sky-high murder rates, higher transaction costs, lower incentives for technological innovation other than ‘military’ innovation, migration of the best human capital, higher cheating rates, poorer quality of goods and services - is the sad and largely unwanted result which has kept southern Italy the way it is. — Diego Gambetta, Trust - Making and Breaking Cooperative…, 2262