One of the major concerns that our current economic system tries to mitigate against is failure of trust. Our legal framework is there to safeguard when trust is broken; for example, when an individual defaults on their rent, there is legal process to evict the tenant; if an individual defaults on their mortgage, there is legal process for the bank to sell your property and reclaim its losses; If you pay for a service and don’t receive it, there are legal mechanisms to support compensation for losses. Much of our legal frameworks are around not being able to trust, and if that trust is broken, the system has quite a hefty stick in order to punish that breach.
It is an interesting notion to me, that we actually need this in the first place, when if you trust someone, maybe that they will pay you some money or help with a task or lend you something, then that will actually happen and we don’t need a legal framework to enable that if we actually have trust in the people and the community around us.
It comes back to the , if there is trust and cooperation the outcome is beneficial for all involved. If one party defaults and the other trusts, the trust party will loose out. If both parties default, both loose out. It is here where we build our trust. If we trust, and all parties lean into that trust, all involve benefit.
With in the parameters of this research, trust is at the core. If we trust that an organisation will meet our needs if we support the organisaiton, then the organisation, by not meeting those needs, breaches the trust of its supporters.
People in Commons CIC
