THE CONCEPT OF SOCIAL CAPITAL IN ECONOMIC THEORY

Slobodan Cvetanovic, Danijela Despotovic and Milorad Filipovic

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2015, vol. 61, issue 01, 12

Abstract: Economic research at the turn of the century has been explicitly dealing with the social capital, as a special form of capital. It is a relatively new concept, which is why it is not surprising that there is no generally accepted term to denote this phenomenon. The social capital means the economic benefit of the society, which can be reached with the help of communication, cooperation, and trust among the entities in the given socio-economic environment. The social capital is most often regarded as the ability of social structures and attitudes that support them to increase the effectiveness of collective action. The social capital is a connective tissue, a glue that helps people to use available resources for creating mutual benefits. Its existence is a prerequisite for economic growth and development. The components of the social capital are social ties and networks that can be transformed into economic capital.

Keywords: Industrial Organization; Political Economy; Production Economics; Public Economics (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:sereko:200272

DOI: 10.22004/ag.econ.200272

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