Abstract
This short paper defends Oliver Williamson's claim that talk of trust is ‘redundant at best and can be misleading’ when trust is defined as a form of calculated risk (Williamson, O. E. [1993]. Calculativeness, trust, and economic organization. The Journal of Law and Economics, 36, 453–486). And this paper accepts Williamson's claim that ‘Calculative trust is a contradiction in terms’. But the present paper defends a conception of genuine, non-calculative trust that is compatible with calculative considerations and calculative antecedents. This conception of trust creates space for genuine (non-calculative) trust relationships in the economic order – in which calculative considerations and antecedents (most often) play an essential role.
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