We always ask ourselves if we can trust those of whom that we trade with. How often do we consider the essence of the level of trust that we have with others? Are we to consider that it is hereditary or are we nurtured in such a way.
Out upbringing is a key contributor and perhaps the only contributor to who and what we can trust. This stems to cooperation between individuals. The level of trust of a being would have some correlation with past experiences. Market institutions allow us to ‘trust’ others without actually knowing them. Thus, it is important to suggest that in an area with no market institutions, we have to rely on past experiences to base any trust on future transactions.
This goes beyond trusting someone with your secrets. there are various levels of initmacy that one can associate with trust. It boils down to the way one was nurtured. If someone has been consistenyl let down when they have trusted someone else, it would be normal for that person to device others that he/she trades or interacts with.
The question to ask yourself is whether your level of trust is associated with your past experience? -If yes, shouldn’t we all continue to build on social capital where we can trust one another. That way, perhaps we can do away with market institutions and create a world of implicit cooperation..