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On the capitalization and cultivation of social capital: Towards a neo-capital general science?

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  • Waldstrøm, Christian
  • Svendsen, Gunnar Lind Haase

Abstract

Bourdieu's [Bourdieu, P., 1986. The Forms of Capital. In: Richardson, J.G. (Ed.), Handbook of Theory and Research for the Sociology of Education. Greenwood Press, New York, pp. 241-258] seminal definition of social capital as "the aggregate of the actual or potential resources" is reflected in older definitions, as well as in many current within sociology, e.g. [Portes, A., 2000. The two meanings of social capital. Sociological Forum 15 (1), 1-12] and organization [Adler, P., Kwon, S.-W., 2002. Social capital: prospects for a new concept. Academy of Management Journal 27 (1), 17-40]. The definition is interesting, because it directs a dual focus on social capital as both immediately and potentially productive resources, i.e., assets that can be immediately capitalized by individuals as well as 'cultivated' for future use. We argue that to further operationalize this concept we must distinguish between actual/potential social capital, within a neo-capital framework that unifies the existing 'plethora' of capitals.

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  • 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.
  • Handle: RePEc:eee:soceco:v:37:y:2008:i:4:p:1495-1514
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    References listed on IDEAS

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    1. Baron, James N & Hannan, Michael T, 1994. "The Impact of Economics on Contemporary Sociology," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1111-1146, September.
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    3. Lindon Robison & A. Allan Schmid & Marcelo Siles, 2002. "Is Social Capital Really Capital?," Review of Social Economy, Taylor & Francis Journals, vol. 60(1), pages 1-21.
    4. Krugman, Paul, 1998. "Two Cheers for Formalism," Economic Journal, Royal Economic Society, vol. 108(451), pages 1829-1836, November.
    5. Veblen, Thorstein, 1908. "Fisher's Capital and Income," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 23.
    6. Paldam, Martin & Svendsen, Gert Tinggaard, 2000. "An essay on social capital: looking for the fire behind the smoke," European Journal of Political Economy, Elsevier, vol. 16(2), pages 339-366, June.
    7. Backhouse, Roger E, 1998. "If Mathematics Is Informal, Then Perhaps We Should Accept That Economics Must Be Informal Too," Economic Journal, Royal Economic Society, vol. 108(451), pages 1848-1858, November.
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