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Social Capital, Inequality, and Economic Crisis

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  • Thorvaldur Gylfason

Abstract

Economic growth is produced in part by the accumulation of different kinds of capital, including social capital in its several forms. If such capital depreciates, including social capital, the economy can be undermined and financial and economic crises can follow. The author compares experiences in the United States to those in Sweden and Iceland to draw useful lessons.

Suggested Citation

  • Thorvaldur Gylfason, 2015. "Social Capital, Inequality, and Economic Crisis," Challenge, Taylor & Francis Journals, vol. 58(4), pages 326-342, July.
    • Handle: RePEc:mes:challe:v:58:y:2015:i:4:p:326-342
    DOI: 10.1080/05775132.2015.1067485
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    References listed on IDEAS

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    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 215-268, November.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    3. Anat Admati & Martin Hellwig, 2013. "The Bankers' New Clothes: What's Wrong with Banking and What to Do about It," Economics Books, Princeton University Press, edition 1, volume 1, number 9929.
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    1. Thorvaldur Gylfason, 2017. "The Anatomy of Constitution Making: From Denmark in 1849 to Iceland in 2017," CESifo Working Paper Series 6488, CESifo.

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