The High Cost of Cheap Social Capital
This paper briefly reviews the theory of social, negative, and cheap social capital and then explains the popularity and the high cost of cheap social capital. Next, this paper points out that our voluntary exchanges (which are enabled by prospects of mutual gain) and the high cost of involuntary exchanges (which are entered into in response to threats and defensive and destructive acts) both reflect our responses to the same physical and socio-emotional needs. Therefore, what differentiates our responses to similar needs are the relationships we have with others—whether they are social, negative, or cheap. Finally, this paper offers some suggestions for avoiding the high cost of cheap social capital.