This book explains why moral beliefs can and likely do play an
important role in the development and operation of market
economies. It provides new arguments for why it is important that
people genuinely trust others-even those whom they know don't
particularly care about them-because in key circumstances
institutions are incapable of combating opportunism. It then
identifies specific characteristics that moral beliefs must have
for the people who possess them to be regarded as trustworthy. When
such moral beliefs are held with sufficient conviction by a
sufficiently high proportion of the population, a high trust
society emerges that supports maximum cooperation and creativity
while permitting honest competition at the same time. Such moral
beliefs are not tied to any particular religion and have nothing to
do with moral earnestness or the set of moral values-what matters
is how they affect the way people think about morality. Such moral
beliefs are based on abstract ideas that must be learned so they
are matters of culture, not genes, and are therefore able to
explain differences in economic performance across societies.
General
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