Tag Archives: trust

“Seeing, Knowing, and Regulating Financial Markets: Moving the Cognitive Framework from the Economic to the Social”

This (open access) interesing and comprehensive paper by Julia Black (LSE), argues that in order to regulate financial markets, we need a more sophisticated and realistic cognitive framework through which to analyse markets’ dynamics and on which to base their ‪regulation‬. To that … Continue reading

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“Modern Politics as a Trust Scheme and Its Relevance to Modern Banking” demonstrates that modern banking and politics are mirror images of each other

The trust is largely absent in the classical writings of Karl Marx and Max Weber on the origins and nature of capitalism. Jongchul Kim demonstrates in this excellent essay (that was awarded the Article of the Year by Journal of … Continue reading

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Why do people play lottery in groups? It’s more about reproducing social ties, than profit maximization

Sharing lottery tickets with co-workers or friends may create agency problems related to opportunism in addition to the fact that playing the lottery in general is tantamount to buying an asset with negative expected value. So why do people form a … Continue reading

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