economics

Economics Imperialism and Social Capital Relationship between social capital and economics

During the 1990s, national governments and international agencies such as the World Bank, OECD, and UNDP discovered social capital, heralding it as the ‘missing link’ in explaining development outcomes and an important factor to build and utilise for improved program performance (Harriss, 2002). This was primarily driven by the World Bank, motivated by mounting criticism …

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What is social capitalism?

Social capitalism is any capitalist system that is structured with the ideology of liberty, equality, and justice. Instead of aiming to accumulate only economic forms of capital, it explicitly values all forms of capital, including social capital, human capital, and natural capital. Instead of maximising profit for the 1%, it involves profit maximisation for all …

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Solving sustainability with social capital? A paradoxical reframing of modernity?

In 1962 Rachel Carson published the book Silent Spring which thrust environmental problems into public awareness and is widely credited with inspiring the environmental movement. Yet nearly 60 years later it doesn’t seem there has been much progress towards sustainability. There has been extensive scientific investigation of environmental issues and leading scientists have twice (1992 …

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Sources of Social Capital What causes or creates social capital?

Much of the literature on social capital poorly distinguishes its source from its form and consequences. It can be very difficult to make these distinctions since many social phenomena involve complex interrelationships with complicated cyclic, relational, and mutual causality. This article discusses a wide range of sources of social capital, some of which may represent …

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The promise of social capital theory Or the dominance of economic discourse and triumph of capitalism?

Social capital theory has been heralded as a very important conceptual innovation. It emphasises social dimensions that have typically been marginalised by the dominant paradigm of individualism and economic rationalism. It helps to reverse the undersocialised view that assumes that humans are rational and self-interested, and largely beyond the influence of social factors. This classical …

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Social capital in economics

For economists, the term ‘social capital’ allows for the consideration of social factors that are normally beyond the purview of economic analysis. Despite their intangible nature, economists since at least David Hume and Adam Smith have been interested in the role of social factors such as trust, reputation, norms and belonging in economic outcomes. These …

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