Social capital refers to the networks, relationships, and norms of trust that individuals form within a community, which allow them to work together effectively. The concept has historical roots dating back to Aristotle and Thomas Aquinas, with its modern usage beginning in the 1890s. Notably, Lyda Hanifan, John Dewey, and Robert Putnam contributed to its development. It is a complex term with various interpretations, including economic, cultural, and social aspects. Social capital fosters societal functioning, entrepreneurship, and strategic alliances, despite potential negative effects such as the rise of harmful movements or perpetuating inequality. Difficulties in measurement and access, particularly due to geographic and social isolation, are key considerations. The concept is often divided into bonding, bridging, and linking types.
This article may be too technical for most readers to understand. (June 2020) |
Social capital is "the networks of relationships among people who live and work in a particular society, enabling that society to function effectively". It involves the effective functioning of social groups through interpersonal relationships, a shared sense of identity, a shared understanding, shared norms, shared values, trust, cooperation, and reciprocity. Some have described it as a form of capital that produces public goods for a common purpose, although this does not align with how it has been measured.
Social capital has been used to explain the improved performance of diverse groups, the growth of entrepreneurial firms, superior managerial performance, enhanced supply chain relations, the value derived from strategic alliances, and the evolution of communities.
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