Economic Crisis, Trust and Socio-Economic Aspects of Sustainable Development

Kossecki, Pawel; Wachowicz, Jacek

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Economic Crisis, Trust and Socio-Economic Aspects of Sustainable Development

Problemy Ekorozwoju – Problems of Sustainable Development, 2013, Vol. 8, No. 1, 65-71

8 Pages Posted: 21 Mar 2013 Last revised: 25 Mar 2013

See all articles by Pawel Kossecki

Pawel Kossecki

The Polish National Film, Television and Theatre School; Leon Kozminski Academy of Enterpreneurship and Management

Jacek Wachowicz

Gdańsk University of Technology - Faculty of Management and Economics

There are 2 versions of this paper

Date Written: January 31, 2013

Abstract

Authors described the relationships between economic crisis and a crisis of trust. This study identifies key elements that play significant role in trust building and destruction. The consequences of behavioral factors of the market players are discussed. Relationships between social status, higher acceptance of risk and decrease of trust in the economic system are analyzed. The importance of trust and intergenerational justice as a base factor for long-term socio-economic growth are also highlighted.

Note: Downloadable document is in Polish.

Keywords: sustainable development, trust, crisis, economy, financial markets, intergenerational justice

JEL Classification: O13, Q20, Q32, Q41, R11, M14

Suggested Citation: Suggested Citation

Kossecki, Pawel and Wachowicz, Jacek, Economic Crisis, Trust and Socio-Economic Aspects of Sustainable Development (January 31, 2013). Problemy Ekorozwoju – Problems of Sustainable Development, 2013, Vol. 8, No. 1, 65-71 , Available at SSRN: https://ssrn.com/abstract=2236094