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How do private entrepreneurs transform local social capital into economic capital? Four case studies from rural Denmark

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  • Haase Svendsen, Gunnar Lind
  • Kjeldsen, Chris
  • Noe, Egon
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    Abstract

    Bourdieu's (1986) General Theory of the Economy of Practices assumes that people perpetually transform tangible and intangible forms of capital according to certain 'laws of conversion'. On this background, and combining sociology and micro-economics, we analyze specific strings of capital conversion in time and space. More specifically, we raise the question: How do private entrepreneurs transform local social capital into economic capital? We combine in-depth interviews with four private entrepreneurs in rural Denmark with Prisoner's Dilemma game theory. Thus each of our cases illustrates one of the outcomes in the PD matrix. In this way we explain why only one of the four entrepreneurs succeeds in capitalizing social capital.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

    Volume (Year): 39 (2010)
    Issue (Month): 6 (December)
    Pages: 631-644

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    Handle: RePEc:eee:soceco:v:39:y:2010:i:6:p:631-644

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    Web page: http://www.elsevier.com/locate/inca/620175

    Related research

    Keywords: Forms of capital Social capital Economic capital Private entrepreneurs Local communities Repeated Prisoner' s Dilemma game Rural Denmark Bourdieu;

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    1. Joel Sobel, 2002. "Can We Trust Social Capital?," Journal of Economic Literature, American Economic Association, vol. 40(1), pages 139-154, March.
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    Cited by:
    1. Katona Kovács, Judit, 2014. "Where to put the focus in rural development? Changing the focus from funding to learning," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 116(1), April.
    2. Backes-Gellner, Uschi & Moog, Petra, 2013. "The disposition to become an entrepreneur and the jacks-of-all-trades in social and human capital," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 47(C), pages 55-72.

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