Professor Zamagni continues the discussion of trust by defining and distinguishing between the exchange of equivalents, philanthropy, and reciprocity. Although all three are necessary, reciprocity is crucial but often absent or marginal. Based on the principle of reciprocity, co-operatives are generators of trust, a civilizing agent within the economic sphere. Zamagni concludes with a discussion of the "social economy". This Bologna Summer Program was presented in Vancouver, BC and is part of the Bologna Lecture series.