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Capital FailureRebuilding Trust in Financial Services$
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Nicholas Morris and David Vines

Print publication date: 2014

Print ISBN-13: 9780198712220

Published to Oxford Scholarship Online: October 2014

DOI: 10.1093/acprof:oso/9780198712220.001.0001

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Trust, Trustworthiness, and Accountability*

Trust, Trustworthiness, and Accountability*

(p.172) 8 Trust, Trustworthiness, and Accountability*
Capital Failure

Onora O’Neill

Oxford University Press

Current public debates often see trust as obsolete in public and institutional life, and recommend accountability as its successor. However this is only made plausible by advancing incomplete conceptions of each idea. The favoured conception of trust sees it as a matter of attitude or affect; the favoured conception of accountability sees it as imposing a further layer of management. There are no good reasons for favouring these conceptions of trust and accountability, or for rejecting or neglecting others. More intelligent conceptions of both are available. Intelligent accountability takes explicit account of links between basic normative claims—duties and rights—for which agents may be required to render an account of (non-)performance, and others to hold them to account for (non-)performance. Forms of accountability can be made to support rather than supersede intelligent forms of trust.

Keywords:   trust, accountability, management, normative claims, duties, rights

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