Sociology
Trust as the Invisible Currency of Informal Economies
Quick fact
In many informal economies, trust functions as an informal contract, with reputation serving as a crucial enforcement mechanism that can be more effective than legal penalties in tight-knit communities.
Why this is interesting
You've likely bought something from a street vendor or borrowed a tool from a neighbor, but what if there were no receipts, contracts, or courts to back you up? How does anything get done?