Smith saw market interdependence as replacing fragile trust with self-reinforcing mutual interest.
Related
- Trust necessarily stays moored in expectations and interests (similarity 0.83)
- Trust reduces transaction costs the way lubricant reduces friction (similarity 0.82)
- Trust grows out of the specific relationship between the parties (similarity 0.82)
- Commerce requires liberty, contract security, trust, and justice (similarity 0.82)
- Trust relationships must be built gradually through small steps because of environmental contingency. (similarity 0.82)
- Cooperation is symmetric while dependence is asymmetric. (similarity 0.81)
- Trust is merely evidence-based expectation while trustworthiness is motivational (similarity 0.81)
- Lack of trust intermediaries has disadvantaged wives, the self-employed, and newcomers (similarity 0.81)
- Iterated ongoing relationships are the largest source of trust in ordinary life. (similarity 0.81)
- Cooperation can operate independently of trust (similarity 0.81)
- Institutional and legal constraints give people strong external incentives to be trustworthy (similarity 0.81)
- Trust and trustworthiness are asymmetrical because only trusting carries significant risk of exploitation (similarity 0.81)
- System trust is easier to acquire but harder to control than personal trust (similarity 0.80)
- Trust cannot be paired with obligation as promises are (similarity 0.80)
- Marsot attributes Palmerston’s hostility to commercial rivalry (similarity 0.80)