Social capital and other transaction capital in economic development: important ontologies in early-stage research

Roy E. Allen, Caroline Burns, Dana R. Herrera, András Margitay-Becht and Saroja Subrahmanyan

Chapter 5 in A Research Agenda for Social Capital in Economic Development, 2025, pp 96-116 from Edward Elgar Publishing

Abstract: This chapter provides a taxonomy of different kinds of capital, and shows that social capital and other kinds of transaction capital are underemphasized, relative to production capital, in economic development research. We use a “human ecology economics (HEE)” approach, which relies on evolutionary and complex systems processes and which expands the field of ecological economics by incorporating interdisciplinary material from the humanities. Given the complex nature of “economic development,” over which there is much disagreement on how to prioritize research or policy action, we use an early-stage research method of exploration more so than a later-stage method of rigorous explanation. We are able to identify the important common mechanisms related to social capital in economic development from significantly different case studies, including (A) the industrial revolution in Europe, (B) Filipino migrant workers in Hungary, and (C) rising homelessness in the US despite rising overall wealth after 1980.

Keywords: Social capital; Transaction capital; Economic development; Human ecology economics (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035315819
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