Eine Vertrauenskrise

LONDON – Das öffentliche Vertrauen in Finanzinstitute und in die Behörden, die diese regulieren sollen, zählte zu den ersten Opfern der Finanzkrise. Das ist kaum überraschend, da zuvor angesehene Firmen offenbarten, dass sie die Titel, mit denen sie selbst handelten, oder die Risiken, die sie auf sich nahmen, nicht vollständig verstanden.

Es ist schwierig, keine heimliche Schadenfreude über die wohlverdiente Strafe für die Meister des Universums zu empfinden. Aber leider könnte es uns alle teuer zu stehen kommen, wenn dieser Vertrauensverlust anhält. So merkte Ralph Waldo Emerson an: „Unser Misstrauen ist sehr teuer.“ Im Hinblick auf die Wirtschaft machte der Nobelpreisträger Kenneth Arrow diese Feststellung vor nahezu 40 Jahren: „Man kann plausibel argumentieren, dass ein großer Anteil der wirtschaftlichen Rückständigkeit in der Welt durch den Mangel an gegenseitigem Vertrauen erklärt werden kann.“

Tatsächlich belegen viele ökonomische Studien eine starke Beziehung zwischen dem Vertrauensniveau in einer Gemeinschaft und ihrer gesamtwirtschaftlichen Leistung. Ohne gegenseitiges Vertrauen ist die wirtschaftliche Aktivität stark eingeschränkt.

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