What is Social Capital?
A growing body of research now identifies how social capital can be beneficial to individuals and their communities, both socially (in terms of better health, education and lower crime, etc.) and also economically (i.e. sustainable economic development). So, where social capital is high, individuals and their communities tend to be healthier, happier and more productive.Professor Robert Putnam, whose book 'Bowling Alone' was in part responsible for generating wider interest in the topic, defined social capital as 'features of social life, networks, norms, and trust, that enable participants to act together more effectively to pursue shared objectives. Social capital in short, refers to social connections and the attendant norms and trust'. (r1)
Not everyone subscribes to Putnam's view of social capital and over the years several versions of the definition of social capital have sprung up, which have not helped to clarify something many economist and social scientist already see as a 'fuzzy' idea.
However, there is a growing acceptance around our understanding of the core elements that make up social capital, which has been helped by an increasing acceptance of the OECD's definition of social capital as 'networks together with shared norms, values and understandings that facilitate cooperation within or among groups', where social capital is seen as a resource which allows individuals, groups and communities to resolve collect problems more easily. (r2)
Basing our understanding and usage of social capital on an accepted definition from a well respected economic development agency, allows for much more robust and replicable approaches to using social capital as a useful resource and framework around which to help deliver community cohesion, prosperity for all and community resilience.
Core Element of Social Capital?
There are three central aspects of social capital: networks (bridging, bonding linking); reciprocity & trust; and norms & values.1. Networks: these bond individuals in groups to each other, bridge the divides between groups and vertically link different levels of power and influence.
Bonding: strong supportive ties which occur within a group be it a family, club, religious group, etc.
Bridging: weak ties that connect people horizontally across group boundaries; critical to providing access to new ideas, resources, communities and cultures.
Linking: ties occur vertically across boundaries of power and kudos. They connect people that may have similar ideals but who move in different 'circles'. Linking ties are important for strategic outcomes.
2. Reciprocity & Trust: Think about who you care about, get on with or work best with, most likely they will be the people you trust most. trust is at the heart of social capital but trust is hard won and more easily lost, this is why reciprocity is an integral part of building social capital.
Reciprocity: occurs when a person gives to someone else, expecting a fair and tangible return at some undefined future date. Reciprocal interaction will often lead to relationships of trust.
Trust: the highest level of information and resource exchange takes place in relationships of trust. Built on knowledge of others being trustworthy.
3. Norms & Values: the basis for the underlying culture of any group or community, norms & values dictate the kind of relationships, and hence networks, being developed.
"Social Capital is generated when people work together to make things happen. It's what's generated when people get involved and ask others to get involved." (r3)
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References:
(1) Putnam. R (2000), Bowling Alone: Collapse and Revival of the American Community
(2) OECD, (2001), The Well-Being of Nations: The Role of Human & Social Capital
(3) Lyon, Barbara (2007), Social Capital - Observations