Are we in a dying economy or in a transition to a new one? We will explore this theme in the month of May. We start with the rise of collaborative consumption made possible my social networking on the Internet. Here are two TED Talks by Rachel Botsman:
I just attended the Merrie Monarch Hula Festival in Hilo, Hawaii. To find a room, I used AirBnB which was mentioned in the second talk above.
The idea that any human action can be based on trust is, at best rather naïve. Trust is based on previous satisfaction with people. If you do not have previous satisfaction you are nothing short of foolish to "trust".
ReplyDeleteThis is especially true of financial transactions. We are, in a ridiculous capitalism society. We actually have lack of respect for anyone who might desire to be trusted, more than he desires to have more money. But... dream on!
Al Goldman
Trust engenders trust in those with whom you have not had a negative experience. Everyday people reach out to each other and place themselves at risk. The process is non-evolutionary but still we do it. Firemen and policemen do it every day, with appropriate caution. How many Jews were save by non-Jew who risked their lives and their families lives. It's true many non-Jews informed on others, e.g. Ann Franks neighbors, and hopefully they got their comeuppance when the war ended.
ReplyDeleteNo trust in financial transactions? There certainly is among honorable participants. If one person is trying to scam another, in whatever financial system, one party is likely to get hurt. Who disrespects the naïve trusting customer? The scammer does. I don't lose respect for the scamee unless he sent money to Nigeria, took out a reverse mortgage, bought an annuity so he'd never run out of money, etc. etc. etc.
In summary, I prefer to dream on.