By Eric L. Lesser

"Social capital - the casual networks, belief, and customary figuring out between participants in a firm - determines significant aggressive merits in present day networked economic climate. wisdom and Social Capital explains how social capital can force collaboration, reconcile an organization's inner and exterior hard work markets, and increase organizational effectiveness. This number of articles is helping readers Read more...

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SOURCES OF SOCIAL CAPITAL Both Bourdieu and Coleman emphasize the intangible character of social capital relative to other forms. Whereas economic capital is in people’s bank accounts and human capital is inside their heads, social capital inheres in the structure of their relationships. To possess social capital, a person must be related to others, and it is those others, not himself, who are the actual source of his or her advantage. As mentioned before, the motivation of others to make resources available on concessionary terms is not uniform.

The novelty and heuristic power of social capital come from two sources. First, the concept focuses attention on the positive consequences of sociability while putting aside its less attractive features. Second, it places those positive consequences in the framework of a broader discussion of capital and calls attention to how such nonmonetary forms can be important sources of power and influence, like the size of one’s stock holdings or bank account. The potential fungibility of diverse sources of capital reduces the distance between the sociological and economic perspectives and simultaneously engages the attention of policy-makers seeking less costly, non-economic solutions to social problems.

Oxford: Clarendon. Williamson, Oliver. 1975. Markets and Hierarchies. New York: Free Press. Social Capital in the Creation of Human Capital 41 . 1981. ” American Journal of Sociology 87548-77. Wrong, Dennis. 1961. ” American Sociological Review 26:183-93. 1 P Chapter 3 Social Capital: Its Origins and Applications in Modern Sociology" Alejandro Portes Department of Sociology, Princeton University, Princeton, N e w Jersey 08540 K E Y WORDS: social control, family support, networks, sociability Abstract-This paper reviews the origins and definitions of social capital in the writings of Bourdieu, Loury, and Coleman, among other authors.

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