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How novel is social capital: Three cases from the British history that reflect social capital

  • Akcomak, Semih


    (UNU-MERIT, Maastricht University, and CPB (Netherlands Bureau for Economic Policy Analysis))

  • Stoneman, Paul


    (Department of Sociology, University of Essex)

Social capital increases efficiency by reducing transaction costs, creating new forms of information exchange and by inducing change in individual attitudes. How Royal Society of London, the Media and the Private Prosecution Societies functioned in the 17th and 18th century Britain display astonishing similarities with these three elements that have been identified by contemporary scholars. By and large current literature treats social capital as novel phenomenon, as "manna from heaven". We argue that social capital is no such magical discovery and it could emerge whenever and wherever social networks exist.

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Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 015.

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Date of creation: 2010
Date of revision:
Handle: RePEc:unm:unumer:2010015
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  1. Akcomak, Semih & ter Weel, Bas, 2006. "Social Capital, Innovation and Growth: Evidence from Europe," MERIT Working Papers 040, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  2. Zon, Adriaan van & Mupela, Evans, 2010. "Endogenous Economic Growth through Connectivity," MERIT Working Papers 001, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  3. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2004. "The Role of Social Capital in Financial Development," American Economic Review, American Economic Association, vol. 94(3), pages 526-556, June.
  4. John Helliwell, 2007. "Well-Being and Social Capital: Does Suicide Pose a Puzzle?," Social Indicators Research, Springer, vol. 81(3), pages 455-496, May.
  5. Knack, Stephen & Keefer, Philip, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1251-88, November.
  6. Paolo Buonanno & Daniel Montolio & Paolo Vanin, 2009. "Does Social Capital Reduce Crime?," Journal of Law and Economics, University of Chicago Press, vol. 52(1), pages 145-170, 02.
  7. Mokyr, Joel, 2005. "The Intellectual Origins of Modern Economic Growth," The Journal of Economic History, Cambridge University Press, vol. 65(02), pages 285-351, June.
  8. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
  9. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, vol. 10(1), pages 122-142, July.
  10. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2008. "Alfred Marshall Lecture Social Capital as Good Culture," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 295-320, 04-05.
  11. Jenny Williams & Robin C. Sickles, 2002. "An Analysis of the Crime as Work Model: Evidence from the 1958 Philadelphia Birth Cohort Study," Journal of Human Resources, University of Wisconsin Press, vol. 37(3), pages 479-509.
  12. Santiago-Rodriguez, Fernando, 2010. "Human resource management and learning for innovation: pharmaceuticals in Mexico," MERIT Working Papers 002, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  13. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2007. "Social Capital as Good Culture," NBER Working Papers 13712, National Bureau of Economic Research, Inc.
  14. Marcel Fafchamps & Bart Minten, 1999. "Relationships and traders in Madagascar," Journal of Development Studies, Taylor & Francis Journals, vol. 35(6), pages 1-35.
  15. Barr, Abigail, 2000. "Social Capital and Technical Information Flows in the Ghanaian Manufacturing Sector," Oxford Economic Papers, Oxford University Press, vol. 52(3), pages 539-59, July.
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