Trust is the invisible glue holding economies together. Without it, contracts fall apart, transactions slow down, and innovation stalls. Yet trust is rarely discussed in economic analysis—perhaps because it’s harder to quantify than GDP or inflation rates. But make no mistake: when trust erodes, the costs are real. From financial crises to social unrest, the consequences ripple far beyond spreadsheets.
I’ve studied economies where trust is high—like the Nordic models—and others where it’s nearly nonexistent. The difference is stark. In high-trust societies, people pay taxes willingly, businesses invest long-term, and institutions function smoothly. In low-trust environments, corruption thrives, talent flees, and growth sputters. The lesson? Trust isn’t a soft concept; it’s an economic asset.
Rebuilding trust requires more than laws or enforcement. It demands consistency, fairness, and accountability. When people see that rules apply equally, that leaders deliver on promises, and that systems are designed for the common good, trust grows. But it’s fragile—one scandal or broken promise can unravel years of progress.
At Elyra Pulse, we believe economics should prioritize trust as much as efficiency. That means calling out inequities, questioning opaque systems, and highlighting models that work. Because an economy without trust isn’t just unstable—it’s unsustainable. And in a world where misinformation spreads faster than ever, trust might be the most valuable currency of all.