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Is Social Capital Really Capital?

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  • Robison, Lindon J.
  • Schmid, A. Allan
  • Siles, Marcelo E.

Abstract

Social capital in the past two decades has emerged as a dominant paradigm in the various social science disciplines. However, its adoption by the different social science disciplines has led to multiple and often conflicting definitions of social capital. Some differences in the definition of social capital can be explained because scientists have included in the definition expressions of its possible uses, where it resides, and how its service capacity can be changed. This paper defends the social capital metaphor by pointing out that social capital has many important capital-like properties including service potential, durability, flexibility, substitutability, opportunities for decay (maintenance), reliability, ability to create other capital forms, and investment (disinvestment) opportunities. Social capital is compared to other forms of capital including cultural capital and human capital.

Suggested Citation

  • Robison, Lindon J. & Schmid, A. Allan & Siles, Marcelo E., 1999. "Is Social Capital Really Capital?," Staff Paper Series 11649, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    • Handle: RePEc:ags:midasp:11649
    DOI: 10.22004/ag.econ.11649
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    3. Thorstein Veblen, 1908. "On the Nature of Capital: Investment, Intangible Assets, and the Pecuniary Magnate," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 23(1), pages 104-136.
    4. Thorstein Veblen, 1908. "On the Nature of Capital," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 22(4), pages 517-542.
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