John Maynard Keynes and the Economy of Trust The Relevance of the Keynesian Social Thought in a Global Society

by Padua, Donatella

• ISBN13: 9781137467225
• ISBN10: 1137467223
• Format: Hardcover
• Copyright: 2014-10-17
• Publisher: Palgrave Pivot

Summary

Why does trust collapse in times of crisis? And when, instead, does it become a driver of growth, generating value? This book offers an analysis of the dynamics of trust through a sociological interpretation of the thought of John Maynard Keynes, the first economist to understand the full extent of the confidence-lever.

In the context of the 2007 crisis and following recession, the innovative concept of Economy of Trust explains how trust spontaneously replaces the weakened institutional system of quality assurance and control and generates value.
Indeed, the deficiency of such a system has become the ideal breeding ground for the growth of the unethical speculative Nominal Economy. Within this context, only targeted policies of Economy of Trust can funnel the 'store of value' effect generated by trust towards positive intents of building social capital. Indeed, always taking in consideration the irrational aspect of human action as identified in a revolutionary way by John Maynard Keynes.

Author Biography

Donatella Padua is a researcher in Sociology and Adjunct Professor of Sociology and of Methods of Analysis of the Complex Society at the Università per Stranieri di Perugia, Italy.

Table of Contents

Preface
1. Introduction
PART I: COMPLEXITY
2. Keynes, The 'Economist Of Complexity'
3. Environmental Complexity
4. Nominal Economy Vs. Real Economy
PART II: TRUST
5. Classical Rationality And Keynesian Irrationality
6. The Elements Of Trust
7. Trust; Confidence; 'Rational Trust'
8. The Role Of Emotions
9. Trust In Social Systems
PART III: VALUE
10. The Economy Of Trust In The Global Crisis
11. Uncertainty
12. Irrationality
13. Speculation
14. Complexity
15. Stories
PART IV: DEVELOPMENT
16. Growth And Development
17. Redistribution, Equity, Trust
18. The Keynesian 'Civilization'
Concluding Remarks
The Economy Of Trust Generates Value