The Level of Confidence in the Stock Market and Our Social Contract
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There is unsaid in our daily life a social contract between all the players. Individuals are able to live their daily lives in a manner without much fear because of this contract, unless one lives in an area where this contract has broken down. You might call this unseen force in ordinary life the confidence that people have that their persons, social, economic, spiritual lives will be protected from the actions of others in that society, or from their government. We have enacted laws, and have institutional structures to protect us, such as the judicial system and religion, however imperfect they are. We have laws on the books to protect the citizenry. The Ten Commandments states that it is not right, for example, for men or women to kill each other, or to steal, and so on.
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