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Social CapitalDefinition Social capital "refers to the collective value of all 'social networks' and the inclinations that arise from these networks to do things for each other," according to Robert Putnam, author of Bowling Alone and the concept's leading exponent (though not its originator). According to Putnam and his followers, social capital is a key component to building and maintaining democracy. Putnam also speaks of two main components of the concept: bonding social capital and bridging social capital. The former referring to the value assigned to social networks between homogenous peoples and the latter to that of social networks between socially heterogeneous peoples. The term "capital" is used by analogy with other forms of economic capital, as social capital is argued to have similar (although less measurable) benefits, and as a result is now considered by institutions such as the World Bank in deciding policy. Social capital is also argued to have a host of other benefits for societies, governments, individuals, and communities; Putnam likes to note that joining an organization cuts in half an individual's chance of dying within the next year. However, social capital may not always be beneficial. Horizontal networks of individual citizens and groups that enhance community productivity and cohesion are said to be positive social capital assets whereas self-serving exclusive gangs and hierarchical patronage systems that operate at cross purposes to societal interests can be thought of as negative social capital burdens on society. Recommended ResourcesSocial Capital Gateway Social Capital Gateway is edited by Fabio Sabatini, a Ph.D. student in Economics at the University of Rome "La Sapienza." --------------------------------- University Resources |