It is the systematic breakdown of trust. High trust societies like USA take trust for granted and don’t consider how difficult it is to rebuild that fabric of trust once it has been deteriorated. It affects everything from institutions to the individual economic transactions between individuals.
Because of this, I’ve always thought it’s better to allow bigger economic downturns but don’t mess with that fabric of trust.
Because of this, I’ve always thought it’s better to allow bigger economic downturns but don’t mess with that fabric of trust.