TRUST ON THE INTERNET: A website called Task Rabbit now allows people to advertise for things like: someone to come to my house and mop the floor. Or buy my groceries and deliver them. Sounds creepy. Why would I trust a stranger found on the internet? Yet, the free market came up with solutions: It harnessed the power of reputation, and now there are ways to know who to trust on the internet.
PRIVATIZE IT: Margaret Thatcher was right. We should trust private companies far more than government: "The right honourable gentleman takes his customary swipe at private enterprise, he can't stand it. He'd rather have nationalization run by politicians who know nothing."
MEDICAL ADVICE FROM STRANGERS: A new company called "CrowdMed" advertises: have your medical problems solved... by the crowd. You submit your case... which means listing your medical problems... and offer a reward, usually a few hundred dollars, to anyone who can solve your case. But would you trust an Internet diagnosis like that? Should you?
IN BITCOIN WE TRUST? The $20 billion in your wallet says "In God We Trust," but right below that is a picture of the White House. Unfortunately, God is not in charge of preserving the value of the dollar... Politicians are. I don't trust them. They have inflated away the value of currencies in country after country. Thankfully, now, there's a private alternative called Bitcoin. But is it any good? It's price has fallen lately.
HOW MUCH TRUST IS TOO MUCH? One coffee shop in North Dakota has no one behind the counter-no one to make sure people pay... they rely on the honor system.
STOSSEL'S TAKE: Trust the market, and now -- the reciprocal ratings on the internet.
