"In others we trust": Finland and Norway – High Trust Societies in the COVID-19 Pandemic

During the Covid-19 pandemic, trust has been identified as a key mechanism in pandemic containment. Norway and Finland, two Nordic countries with high trust scores, are cited as best-practice examples. In a qualitative research project on the theoretical construct of caring economics conducted by the author, the deep societal anchoring of trust and integrity has been confirmed in both countries. Based on the empirical example of the Nordic countries, the concept of caring economics emphasizes partnerism and thereby the real wealth of nations. Dugnad/Dugnadsånd, which refers to collective effort, is a trust-based Norwegian type of commons and commoning that can be regarded as an intersection with caring economics. Dugnad/Dugnadsånd integrates the various notions of interpersonal, system, and institutional trust, and thus widely supports mechanisms of pandemic control.

Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development

Why do similar economic and political institutions function differently in various cultures? Do cultural traits, differences in individualism versus collectivism, have a causal impact on economic behavior and development? This article presents a recent survey of the literature on the relationship between culture, institutions, and economic growth. On the one hand, part of the literature indicates that there is a one-way causality from culture to institutions and economic performance. On the other hand, there is an extensive literature that has established causality from institutions to economic growth and culture. However, a growing body of empirical research demonstrates that culture and institutions interact in two ways and complement each other affecting long-term growth. Research documents cultural variables affecting a great deal of economic activity and institutions across the world. Recent dominant discourse on the role of the individualism-collectivism cleavage in the determination of the wealth of nations has attempted to examine the positive effects of individualism rather than collectivism. This paper shows that the advantages of collectivism have been rarely researched within economic literature. Taking into account collectivism can shed light on various puzzles in economics, such as solving collective action problems.