Trust as an Economic ForceBy Abel MerawiJune 8, 2020 (Ezega.com) -- Most economic theories begin with the assumption that personal and selfish interests are the primary driving forces of the economy. While there is some truth in this hypothesis, it practically fails since it leaves out a major economic force – trust. As our economic life is the reflection of our social life, assuming we are only interested in gratifying our self-interest cannot explain many areas of our lives. An economic transaction is no different, and a nation’s economic prosperity depends on the level of trust. Though it is difficult to show the experience of various nations is a short article, the economic difference between high trust and low trust nations is a good indicator.

Source: Ethiopian News June 08, 2020 19:30 UTC