Freakonomics Radio Trust Me (Ep. 266 Rebroadcast)
Dec 31, 2020
David Halpern leads the UK's Behavioural Insights Team, focusing on how behavioral science informs policy and social trust. Bob Putnam, a Harvard professor, dives into social capital and its evolution. They discuss the alarming decline of social trust in the U.S. and UK, linking it to increased diversity and social disengagement. The pair highlights how trust affects community wellbeing and economic growth, exploring pathways to rebuild social connections. Anecdotes and research underline the critical need for fostering trust in an increasingly complex society.
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Social Trust's Importance
- Social trust, like dark matter, significantly impacts economies and societies but is often overlooked.
- It strongly predicts national growth and individual health, comparable to quitting smoking.
Measuring Social Trust
- Social trust is measurable through surveys or by analyzing social networks.
- Trust levels differ drastically across nations, from below 10% in Brazil to over 70% in Norway.
Social Capital's Value
- Social capital, like physical and financial capital, has measurable economic value.
- Higher social trust correlates with increased earnings and better economic growth.
