Innovation and trust

15 February 2022

Today we live in a world that is built and supported on networks and in which inno- vation is becoming more and more open. The options for creating something new are obviously endless. At the same time, we are dealing with more and more people around the globe, but we often work with each other only at a distance and under immense time pressure.

What its various definitions have in common is that trust contains the expectation that one can get involved with each other despite a certain risk. In principle, it is about being able to rely on the counterpart's performance.

Trust has been regarded as the "lubricant" of the economy for centuries. In the 16th century, its function was to ensure the liquidity of the economy. Today, it is increasingly about achieving efficiency through trust. And basically about what Luhmann already understood by trust: the reduction of social complexity. A study by the Institute of the German Economy (IW) proves this: Trust promotes productivity and can thus become an important competitive advantage.

However, if we look at the current world situation, there is an increasingly obvious crisis of confidence.

But perhaps too much trust also creates a harmony that can no longer be classified as innovative due to a lack of conflict and too much routine?



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