Exchange theorists variously emphasize the importance of trust in social and institutional relations. Identify one recent public event/scandal which might be characterized as causing a breakdown in institutional trust (e.g., the crisis in banking; the Catholic Church's sex-abuse scandals; the corporatization of medicine [ see chapter 4]). What social and institutional remedies might help to restore trust in these institutions?

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The Answer is One recent public event that could be characterized as causing a breakdown in institutional trust is the scandal involving the corporatization of medicine, particularly in the pharmaceutical industry. This scandal has involved cases of price gouging, unethical marketing practices, and the prioritization of profits over patient well-being.

To restore trust in the pharmaceutical industry and the healthcare system as a whole, social and institutional remedies could include increased transparency and accountability in drug pricing and marketing, stricter regulations and oversight of pharmaceutical companies, and efforts to prioritize patient care and well-being over profits. Additionally, promoting ethical behavior and values within the industry, as well as fostering open communication and collaboration between healthcare providers, patients, and pharmaceutical companies, could help to rebuild trust in the healthcare system. Ultimately, restoring trust in the pharmaceutical industry will require a combination of regulatory reforms, ethical leadership, and a commitment to prioritizing the well-being of patients.

Exchange Theorists Variously Emphasize the Importance of Trust in Social