Our distrust is very expensive

It can be plausibly argued that much of the economic backwardness in the world can be explained by the lack of mutual confidence. Kenneth Arrow

Accoringly with Davies:

"That fall in confidence affected banks, the stock market, and the government and its regulators. Furthermore, the survey [Financial Trust Index] showed that declining trust was strongly correlated with financial behavior. In other words, if your trust in the market and in the way it is regulated fell sharply, you were less likely to deposit money in banks or invest in stocks. So falling trust had real economic consequences."