Chapter 1

Numbers preceding the notes refer to endnote numbers.

(1) In his book, The Speed of Trust, Stephen Covey talks about five levels of trust, which he calls “waves”: self-trust, relationship trust, organizational trust, market trust, and societal trust.

(2) Piero Ferrucci wrote:

To trust is to bet. Each time we trust, we put ourselves on the line. If we confide in a friend, we can be betrayed. If we put faith in a partner, we can be abandoned. If we trust in the world, we can be crushed. Far too often it ends that way. But the alternative is worse still, because if we do not put ourselves on the line, nothing will happen.

(3) Diego Gambetta: “When we say we trust someone or that someone is trustworthy, we implicitly mean that the probability that he will perform an action that is beneficial or at least not detrimental to us is high enough for us to consider engaging in some form of cooperation with him.”

(4) David Messick and Roderick Kramer: “We will define trust in these situations as making the decision as if the other person or persons will abide by ordinary ethical rules that are involved in the situation.”

(5) Sociologist Anthony Giddens proposed a similar three-level progression of trust:

Trust in persons…is built upon mutuality of response and involvement: faith in the integrity of another is a prime source of a feeling of integrity and authenticity of the self. Trust in abstract systems provides for the security of day-to-day reliability, but by its very ...

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