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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

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.

Suggested Citation

  • Haase Svendsen, Gunnar Lind & Kjeldsen, Chris & Noe, Egon, 2010. "How do private entrepreneurs transform local social capital into economic capital? Four case studies from rural Denmark," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(6), pages 631-644, December.
    • Handle: RePEc:eee:soceco:v:39:y:2010:i:6:p:631-644
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    References listed on IDEAS

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    1. Waldstrøm, Christian & Svendsen, Gunnar Lind Haase, 2008. "On the capitalization and cultivation of social capital: Towards a neo-capital general science?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1495-1514, August.
    2. 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. Tarryn Kille & Retha Wiesner & Seung-Yong Lee & Melissa Johnson Morgan & Jane Summers & Daniel Davoodian, 2022. "Capital Factors Influencing Rural, Regional and Remote Women’s Entrepreneurship Development: An Australian Perspective," Sustainability, MDPI, vol. 14(24), pages 1-25, December.
    2. Tove Brink & Gunnar Lind Haase Svendsen, 2013. "Social Capital or Waste of Time ? Social Networks, Social Capital and ¡®Unconventional Alliances¡¯ among Danish Rural Entrepreneurs," Business and Management Research, Business and Management Research, Sciedu Press, vol. 2(1), pages 55-68, March.
    3. 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.
    4. Zhou, Lingxu & Chan, Eric & Song, Haiyan, 2017. "Social capital and entrepreneurial mobility in early-stage tourism development: A case from rural China," Tourism Management, Elsevier, vol. 63(C), pages 338-350.
    5. Katona-Kovacs, 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), pages 1-8, April.

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