Micro-level trust in institutions can survive macro-level loss of system confidence

Evidence

The economy, for example, may enjoy periods in which it is possible to have reasonable trust: in investment, and stable political conditions may assist in this. Results may then strengthen confidence in monetary stability — that is, in the system. The law may protect civil rights, freedom, and property even in the face of political opportunity. Thereby, it may create a confidence in the legal system and in positions of security which then makes it easier to place trust in other relations. — Diego Gambetta, Trust - Making and Breaking Cooperative…, 1442

Categorization

• XREF: Directly parallels Hardin: institutions create the observability and enforcement constraints that make trust rational even when system-level confidence is low.