The Economics of Trust | WHAT REALLY HAPPENED

The Economics of Trust

America in the last 7 years or so has undermined both personal trust in our leadership (Bush, Cheney and Congress are the least popular president, VP and congress in history). Moreover, Americans trust in our institutions - institutionalized trust - has also collapsed.
Surveys show that Americans' trust in our government and in governmental and financial systems has plummeted after the government's failure to stop the 9/11 attacks, lying about Iraqi WMDs, letting New Orleans drown in Hurricane Katrina, spying on Americans and torture.

Americans no longer trust the politicians, the justice system, their ability to obtain liberty, or the media. They sure don't trust the bankers and the financial bigwigs, who they rightfully blame for bringing on the financial crisis.

Indeed, if our leaders aren't following the Constitution or the rule of law, and are lying about what they're doing, why should we believe that they are enforcing the rules of a free market? Everywhere we look, we see that those with power act as if they were above the law. It is true of banks and Wall Street giants, as well as politicians.