I was digging through some boxes and found an old calabash pipe and stand. It’s the sort of pipe that people think of Sherlock Holmes smoking even though in the books he didn’t (William Gillette added the calabash for a stage adaptation over a century ago and it stuck).
Gourd pipes have gone out of style, being largely replaced by mahogany. That makes this calabash if not an antique at least a curio I could put in my office as a conversation piece. But the decades-old cork ring is eroded and the whole thing is smoke scarred and tobacco encrusted. What to do?
I talked to a local tobacconist who gave me the phone number of a pipe maven in Tennessee who might be able to help. I talked to said Tennessean on the telephone and he said he could probably restore the pipe, so I have mailed it to him.
What is striking about this relative to other business transactions is that this is all done on trust. I don’t know the pipe expert from Adam (not even his last name); he could keep my pipe and there would be nothing I could do about it. On his end, I didn’t send any money so he could do the work and not get paid. But I just had a feeling that I could trust him and I guess he felt the same as we didn’t even agree on the price — we will work that out later on the basis of reason and good faith, jointly applied.
No receipts, no travel to meet in person, no insurance, no contract — all of those costly things are not needed because we exist in an atmosphere of trust.
It reminded me that one of the early stamp collecting companies used to mail sets of valuable old stamps to collectors who were asked to take what they wanted, mail in a check to pay for it, and then mail the stamps directly to the next collector on a list. Anyone could have easily stolen stamps under this system, but apparently few people did because the company was highly profitable.
We spend so much money because of distrust, whether it’s locks on our doors, liability insurance, receipts in triplicate or certified mail. We accept that we can’t trust each other and endure much deadweight financial loss on that basis. We would reap enormous economic benefits if we were more trusting and trustworthy. We think of these things as virtues and they are, but they also have large economic consequences (Did you know that the Amish are so dutiful about paying back loans that banks give them extremely low interest rates?).
I could never prove it, but I think the decline in trust in the country reduces GDP as much as many other factors that are blamed for poor economic performance. Just one more reason why the coming years are not likely to be good ones for our country.