Jamal Awil

← Trust and Trustworthiness

Its workings recall Barak’s response when asked whether he trusted Arafat (quoted in chapter. [fact]

It is the genius of the market to organize exchange in ways that commonly do not require high levels of trust. Its workings recall Barak’s response when asked whether he trusted Arafat (quoted in chapter 1). His answer was that trust was not at issue because each sought to push the interests of his own people. Similarly, in the market, I do not trust Ford or Microsoft, but I do rely on them to follow their own interests in being disciplined by market incentives, perhaps with a bit of help from public regulatory agencies.

Russell Hardin, Trust and Trustworthiness, loc. 831