I argue for an account of the vulnerability of trust, as a product of our need for secure social attachments to individuals and to a group. This account seeks to explain why it is true that, when we trust or distrust someone, we are susceptible to being betrayed by them, rather than merely disappointed or frustrated in our goals. What we are concerned about in matters of trust is, at the basic level, whether we matter, in a non-instrumental way, to (...) that individual, or to the group of which they are a member. We have this concern as a result of a drive to form secure social attachments. This makes us vulnerable in the characteristic way of being susceptible to betrayal, because how the other acts in such matters can demonstrate our lack of worth to them, or to the group, thereby threatening the security of our attachment, and eliciting the reactive attitudes characteristic of betrayal. (shrink)

Since the global financial crisis in 2008, corporations have faced a crisis of trust, with growing sentiment against ‘elites and ‘big business’ and a feeling that ‘something ought to be done’ to re-establish public regard for corporations. Trust and trustworthiness are deeply moral significant. They provide the ‘glue or lubricant’ that begets reciprocity, decreases risk, secures dignity and respect, and safeguards against the subordination of the powerless to the powerful. However, in deciding how to restore trust, it is difficult to (...) determine precisely what should be done, by whom, and who will bear the cost, especially if any action involves a risk to overall market efficiency and corporate profitability. The paper explores whether corporations have a moral duty to be trustworthy, to bear the cost of being so and thus contribute to resolving the current crisis of trust. It also considers where the state and other social actors have strong reason to protect and enforce such moral rights, while acknowledging that other actors have similar obligations to be trustworthy. It outlines five ‘salient factors’ that trigger specific rights to trustworthiness and a concomitant duty on corporations to be trustworthy: market power, subordination (threat and intimidation), the absence of choice, the need to preserve systemic trust, and corporate political power which might undermine a state’s legitimacy. Absent these factors and corporations do not have a general duty to be trustworthy, since a responsible actor in fair market conditions should be able to choose between the costs and benefits of dealing with generally trustworthy corporations. (shrink)