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...write that integrity is widely misunderstood. What don't people get? I don't think they understand that if you act with integrity you actually can create wealth. We tend to think in a conventional way of integrity as - if you look it up in the dictionary - honor, honesty, moral rectitude. We think of it as a personal issue, a private morality, entirely up to you. But this way of thinking about integrity, the economic view, is a collective view. It's all about us. It underpins everything we do in the economy. [For] any transaction [to] succeed - whether...

Author: /time Magazine | Title: How Trust Creates Wealth | 3/10/2010 | See Source »

...back the layers off that transaction you can see there are far more relationships of integrity and trust needed to bring that milk to you. You can start with the farmer who needs to look after his cows properly, the vet who gives the cattle their antibiotics, all the way up the milk chain of the lab technicians, the plant workers, the distribution company. Not only are you trusting in their integrity, but they're all trusting each other. Because they all depend on each other to produce a gallon of milk that you as the customer are going...

Author: /time Magazine | Title: How Trust Creates Wealth | 3/10/2010 | See Source »

...talk about creating integrity systems. What are those? I use eBay as an example of how you can create integrity from scratch. If you played according to the rules - if you bought, if you sold exactly the products in the way that you said they were, if you handed them over to the buyer in good order - then everybody created wealth and everybody benefited. And that cycle of integrity and wealth encouraged more people to come in. And then you had a bigger pot of integrity and a bigger pot of creating wealth. It's a virtuous circle...

Author: /time Magazine | Title: How Trust Creates Wealth | 3/10/2010 | See Source »

...open so people can make their own decisions. Norms [are] basic guidelines that are simple, easy to understand and intuitive. If you're buying [on eBay], the rule is, you follow through and you send your money. If you're selling, you basically send your goods in the way that you say you will. That makes sense to us; it's easy to follow those rules. Lastly, accountability. This isn't about trying to catch people. It's actually about giving people the perception that if they break the rules there's a good chance they'll get caught...

Author: /time Magazine | Title: How Trust Creates Wealth | 3/10/2010 | See Source »

...Among the other measures he wants to see implemented is legislation that would allow holding terrorism suspects without trial or charge and a method of handling detainees who win their habeas corpus cases. Bringing KSM into a military trial, Graham said, "is a good start to find a way forward...

Author: /time Magazine | Title: Can Lindsay Graham Broker a Deal on 9/11 Trials? | 3/9/2010 | See Source »

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