What is social capital?

Whereas physical capital refers to physical objects and human capital refers to the properties of individuals, social capital refers to connections among individuals - social networks and the norms of reciprocity and trustworthiness that arise from them. In that sense social capital is closely related to what some have called "civic virtue." The difference is that "social capital" calls attention to the fact that civic virtue is most powerful when embedded in a sense network of reciprocal social relations. A society of many virtuous but isolated individuals is not necessarily rich in social capital. (Robert Putnam)

Why social capital matters

Research has begun to show how powerfully social capital, or its absence, affects the well being of individuals, organizations, and nations.

Economics studies demonstrate that social capital makes workers more productive, firms more competitive, and nations more prosperous.

Psychological research indicates that abundant social capital makes individuals less prone to depression and more inclined to help others.

Epidemiological reports show that social capital decreases the rate of suicide, colds, heart attacks, strokes, and cancer, and improves individuals' ability to fight or recover from illnesses once they have struck.

Sociology studies suggest that social capital reduces crime, juvenile delinquency, teenage pregnancy, child abuse, welfare dependency, and drug abuse, and increases student test scores and graduation rates.

From political science, we know that extensive social capital makes government agencies more responsive, efficient, and innovative.

And from our own personal experience we know that social capital makes navigating life a whole lot easier: Our friends and family members cheer us up when we're down, bring us chicken soup when we're sick, offer job leads when we're unemployed, babysit our kids when we're away, join us at the movies when we're bored, give us loans when we're broke, and remember our birthdays even when we forget them.

It is becoming increasingly clear that social capital has an enormous array of practical benefits to individuals and to communities. What is more, social capital has what economists call "positive externalities." That is, networks of trust and reciprocity not only benefit those within them, but also those outside them.

Consequently, when social capital is depleted, people suffer in clear and measurable ways, and there is a ripple effect beyond a scattering of lonely individuals. Shoring up our stocks of social capital, therefore, represents one of the most promising approaches for remedying all sorts of social ills. (Source: BetterTogether, a report issued by the Saguaro Seminar)

2007.02.20

Prewrite
Social Capital in my opinion is where people be affected through a political standpoint. Dictionary.com defines social capital means that "An economic idea that refers to the connections between individuals and entities that can be economically valuable. Social networks that include people who trust and assist each other can be a powerful asset. These relationships between individuals and firms can lead to a state in which each will think of the other when something needs to be done. Along with economic capital, social capital is a valuable mechanism in economic growth."

Postwrite
After Marys class I had understood what social capital means that the way that you are affected by an economic or political idea, which connects individual and entities. this is the way we are born, and the way that we are raised to believe that out economic capital, social capital is valuable mechanism for economic growth.

Application
The way I apply this is because in our lives we see that our community of PSEC, this practice is important because of the group of people in our lives we are so familiar with this, it helps us show the affect the on our lives with social capital.