It is surprising that there is little skepticism in the literature over the Discuss the concept social capital with of the purported benefits of social capital given the uncertainty of measurement techniques identified above. Types of Social Capital Social capital is vital for businesses across many industries.
Collective action is thus an indicator of increased social capital. Moreover, the presence of such groups can decrease the overall social capital in a neighborhood or city, which causes local businesses to suffer, as potential customers avoid these areas because of their less-than-stellar reputations.
The Ku Klux Klan is an example of this kind of organizations. For example, adverse social capital results when a social network is used for manipulative or destructive purposes that affect the economy negatively. Many businesses choose to invest in the happiness and well-being of their employees because this investment indirectly benefits the bottom line by cultivating a happier, more efficient workforce.
Nefarious groups, such as gangs and drug cartels, use social capital to strengthen bonds within the group and to reach out to like-minded individuals as a way to increase their ranks.
However this ignores the arguments of many theorists who believe that social capital leads to exclusion[ citation needed ] rather than to a stronger civil society.
You should reference this work as: Some aspects of the concept, such as inter-personal trust, are clearly desirable in themselves while other aspects are more instrumental Bankston and Zhou .
The concept that underlies social capital has a much longer history; thinkers exploring the relation between associational life and democracy were using similar concepts regularly by the 19th century, drawing on the work of earlier writers such as James Madison The Federalist Papers and Alexis de Tocqueville Democracy in America to integrate concepts of social cohesion and connectedness into the pluralist tradition in American political science.
While it may seem that this is limited by population, this need not be the case as people join multiple groups.
Optimism, satisfaction with life, perceptions of government institutions and political involvement all stem from the fundamental dimensions of social capital Narayan and Cassidy In international development, Ben Fine and John Harriss have been heavily critical of the inappropriate adoption of social capital as a supposed panacea promoting civil society organisations and NGOs, for example, as agents of development for the inequalities generated by neo liberal economic development.
The basis of the category of social capital is that an individual who donates his or her resources not because he is seeking direct repayment from the recipient, but because they are part of the same social structure. Bonding capital are the relationships a person has with friends and family, making it also the strongest form of social capital.
Coleman goes on to say that when people live in this way and benefit from this type of social capital, individuals in the society are able to rest assured that their belongings and family will be safe.
The social capital they accumulated because of this participation had individual benefits for them, and created collective benefits through different routes, for example: Social capital is formed by repeated interactions over time and he argues is critical for development and difficult to generate through public policy.
Human capital refers to the skills and abilities a company's employees bring to the operation. Fukuyama suggests that while social capital is beneficial for development, it also imposes cost on non-group members with unintended consequences for general welfare.
First, social capital is not equally available to all, in much the same way that other forms of capital are differently available. Human Capital Human capital is a much less tangible concept, but its contribution to a company's success is no less important.
Aldridge, Halpern et al  cautioned that some of the empirical evidence on the importance of social capital for economic and social outcomes needs to be treated with caution because of the mis-specification or ambiguity of equations or models used to estimate its impact.
In doing so we satisfy our own needs for validation and belonging. Social capital development on the internet via social networking websites such as Facebook or Myspace tends to be bridging capital according to one study, though "virtual" social capital is a new area of research.
His conclusions have been praised but also criticized. Facilitate communication in the community across ethnic lines Squelch false rumors Help the administration carry out its job and in particular peace, security and justice This is a useful distinction; nevertheless its implication on social capital can only be accepted if one espouses the functionalist understanding of the latter concept.
This process increases social capital even further if socio-economic development is matched by the revival of the unique historical legacy of the area.
These voluntary associations also connect people with each other, build trust and reciprocity through informal, loosely structured associations, and consolidate society through altruism without obligation.
Notes on the social determinants of economic action. The value of the historical legacy for present socio-economic development is similar to the 'appropriable social capital' theorized by Coleman  at the individual level.
The study found that social media platforms like Facebook provide an opportunity for increased social capital, but mostly for extroverts.
The high levels of transparency caused greater participation from the people and thus allowed for democracy to work better. Through the social capital concept researchers have tried to propose a synthesis between the value contained in the communitarian approaches and individualism professed by the 'rational choice theory.
They found that confidence and civic cooperation have a great impact in economic growth, and that in less polarized societies in terms of inequality and ethnic differences, social capital is bigger.Social capital, the most controversial and the hardest to measure, consists of a stock of trust, mutual understanding, shared values and socially held knowledge.
Benefits and Importance of Social Capital The importance of social capital theory is apparent from the literature with many empirical studies that purport to show the importance of social capital to a very wide-ranging set of socioeconomic phenomena (Durlauf a  ; Krishna ). Discuss the concept of cultural capital Since the s, social capital has become a popular concept in many disciplines concerned and analysis of important starting point.
Hofstede () published a study in the field of cultural significance of the research results. Social capital has been defined in different ways over the years; James Coleman developed the concept as: "The types of relations that exist between individuals as located within both families and communities, and that are said to exert a strong influence on levels of educational achievement.".
Discuss the concept of cultural capital Pierre Bourdieu developed the concept of cultural capital in order to attempt to explain the differences in educational outcomes in France during the ’s. Social capital is the term for economic resources obtained from interactions between businesses and individuals or networks of individuals.Download