Trust as an institute in the mirror of new challenges, imperatives and possibilities of socio-economic development

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Dynamic transformations of traditional horizontal and vertical links in the new, – network, – economy, increase the importance of trust as a fundamental principle of constructing effective socio-economic relations. The relevance of the study is contingent on the increase of the role, significance, functional load on social capital, which is based on the trust institute. The scientific and practical significance of the study lies in the identification of phenomena and processes that are a kind of “thrombi” on the path to the development of the institute of trust, and the substantiation of the modern scientific platform for the further development of a road map for building a trust society. The results of the study are aimed at substantiating the institute of trust in the system of factors of socio-economic development. The subject of the study is the theoretical and applied principles of the social phenomenon of trust in the conditions of the challenges and imperatives of the new economy. The methodological basis for achieving the set goal is a systematic approach in the research of trust as a system-forming dominant of social wealth. The purpose of the study is the scientific and theoretical substantiation of the construction of trust relations in the context of the possibilities of social and economic development. The carrier of relationships – a person, who is active, conscious, possesses knowledge, ethical norms, and motivational guidelines; is the bearer of socially significant moral and cultural values, is situated in the foreground of the concept of trust, which authors adhere to. On the basis of generalization of existing theoretical developments in the sphere of trust the modern scientific and practical angle of this phenomenon has been highlighted; the benefits that society receives from a high level of trust has been revealed; prerequisites of trust have been identified; the leading role of trust in formation and reproduction of social capital has been proven; the failure of the state in the development of the trust institute has been substantiated. Trust has been emphasized as a relationship of a bilateral reciprocal nature on the part of its counterparties. The authors argue that trust is a fundamental phenomenon, a process of both socio-economic relations and the functioning of public institutions and permeates the entire spectrum of horizontal and vertical connections that are formed in society.

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