<italic>When trust is shaken, individuals pull back and the market system contracts. Where trust grows, individual energy and creativity are unleashed and the system grows. In Adam Smith’s vision of humankind’s progress, trust is the central theme.</italic>

<italic>The piece begins with the proposition that the economic perspective on human activity must reflect the fact that human beings transact in a world defined for the actors by social norms. An analysis of the crisis of 2008 is offered as a demonstration of the value of adopting such a broader...</italic>