Editorial
The crisis of confidence - True Indicator of a Redistribution of Cards in Geopolitics
Beyond the war crisis , with the events in Ukraine , that are mobilizing Western medias , there is a devastating economic crisis of confidence to which the world is sneakily being subjected , and whoever we like it or not , is redistributing cards to the world chessboard
Confidence in economics has several meanings , and many researchers have agreed on the term to better pronounce their disagreement . Albert Breton , and Ronald Wintrobe in their work published in 1986 at the University of Cambridge , believes that confidence in economics is strictly linked to coercion namely the existence of a legal framework which forces economic agents to behave in a certain way for fear of economic sanctions , a logic which is widely shared by the Western community which has always believed that the force of law is not related to the confidence in the law , but rather in the fear of its devastating e ect on o enders . Also in this fascist logic , we do not obey the law because it exists for the common good , but because we fear sanctions . Edward P . Lazear and Eugene Kandel , in their book published by Chicago press in 1992 , state that individuals are not always tempted by the non-respect of their economic commitments and it is in such a case , that one could speak of confidence or default of confidence . This implies that if one is not tempted by non-compliance with economic laws , then this non-compliance can only be imposed on economic agents when they face problematic situations in an economic community .
Flashmag ! Issue 128 April 2022
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