News Tagged "Science"

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To Endow Trust

  • Benedikt Herrmann
  • Science
  • October 12, 2012

Liars and Outliers Enabling the Trust That Society Needs to Thrive by Bruce Schneier Wiley, Indianapolis, IN, 2012. 382 pp. $24.95, C$27.95. ISBN 9781118143308.

When the extent of the financial crisis came to light in 2008, former chair of the U.S. Federal Reserve Alan Greenspan had to admit to Congress that he had “made a mistake in presuming that the self interest of organizations … was such that they were best capable of protecting their own shareholders and the equity in the firms”—a mistake that turned out to be very costly, and not only to the American economy. It might be unfair to blame Greenspan for his misperception of the self-interest of organizations. Until very recently, there was no way for someone to objectively and impartially measure the nature of human social behavior. From Aristotle to George W. Bush, decisions have been made based on personal beliefs about how selfishly or cooperatively other people will act…

Sidebar photo of Bruce Schneier by Joe MacInnis.