المستودع الأكاديمي جامعة المدينة

The use and abuse of trust : social capital and its deployment by early modern guilds

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dc.creator Ogilvie, Sheilagh
dc.date 2004
dc.date.accessioned 2013-10-16T07:00:46Z
dc.date.available 2013-10-16T07:00:46Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18667
dc.identifier ppn:477260438
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18667
dc.description Guilds are social scientists? favoured historical example of institutions generating a ?social capital? of trust that benefited entire economies. This article considers this view in the light of empirical findings for early modern Europe. It draws the distinction between a ?particularized? trust in persons of known attributes and a ?generalized? trust that applies even to strangers. This is paralleled by the distinction between a ?differential? trust in institutions that enforce the rights of certain groups and a ?uniform? trust in impartial institutions that enforce the rights of all. Guilds had the potential to generate the particularized and differential trust to solve market failures relating to product quality, training, and innovation, although the empirical findings suggest that they often failed to fulfil this potential. Guilds also had the potential to abuse their trust, and the empirical findings show that they indeed manipulated their social capital of shared norms, common information, mutual sanctions, and collective political action to benefit their members at others? expense, blocking the spread of generalized and uniform trust. Counter to the assumptions of social capital theory, the example of preindustrial guilds suggests that the particularized and differential trust fostered by associative institutions do not favour but hinder the generalized and uniform trust fostered by impartial institutions.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1302
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject Z13
dc.subject O17
dc.subject N43
dc.subject N63
dc.subject L4
dc.subject ddc:330
dc.subject Zunft
dc.subject Vertrauen
dc.subject Social Capital
dc.subject Europa
dc.title The use and abuse of trust : social capital and its deployment by early modern guilds
dc.type doc-type:workingPaper


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