Trust in the knowledge economy

Abstract

Purpose - The purpose of this paper is to provide insights into the expanding role of trust in the knowledge economy. Specifically it aims to focus on the unique nature of the knowledge economy and the importance of informal and social control provided by the development of trust. Design/methodology/approach - The paper is conceptual and a literature review. Findings - The intra- and inter-organizational dynamics of the knowledge economy require a unique focus on the development and maintenance of trust. Marketing relationships within and across firms will change and require a renewed emphasis on trust to safeguard the key asset in the knowledge economy, knowledge. Originality/value - This article adds new insights on organizational trust, specifically under the paradigm of knowledge-based production systems that characterize a knowledge economy.