“Trust is an important lubricant of a social system. It is extremely efficient; it saves a lot of trouble to have a fair degree of reliance on other people's word. Unfortunately this is not a commodity which can be bought very easily. If you have to buy it, you already have some doubts about what you have bought.”
Source: 1970s-1980s, The Limits Of Organization (1974), Chapter 1, Rationality: Individual And Social, p. 23
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Kenneth Arrow 37
American economist 1921–2017Related quotes

Speech, quoted in The Guardian, 31 December 1994
Kenneth Boulding, quoted in Dixy Lee Ray (1990). "Trashing the Planet", p. 168. Regnery Publishing, Inc. ISBN 978-0895265449.
1990s and attributed
Source: Europe and the People Without History, 1982, Chapter 12 The New Laborers, p. 354.

Interview with Alison McLaughlin at New York Fashion Week 2012, September 2012. [E3Mfyzi3R90].