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Ethics and social capital for global well-being

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  • Patricia Illingworth

Abstract

Social capital is associated with considerable benefits for individuals and communities. Because some social capital is non-excludable, people may be disinclined to undertake activities that will create it. This is especially likely when the norm of self-interest is prominent. In addition, given the birds of a feather phenomenon, social capital appears to thrive in homogenous networks, and to languish in the face of diversity. I argue that social capital meets the criteria of a moral concept and that treating it as such can address these vulnerabilities. In particular, as a moral principle, social capital would be more demanding than mere self-interest and the moral requirement of universality would trigger a duty to act impartially with respect to networks. Since market interactions can create social capital, and social capital is a moral good, market interactions are in part constitutive of the good. I also argue that global social capital is important for both global well-being and sustainable globalization. Given the benefits of social capital, including it in the choice architecture as a moral principle will be worth the investment. Copyright Springer-Verlag 2012

Suggested Citation

  • Patricia Illingworth, 2012. "Ethics and social capital for global well-being," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 59(4), pages 389-407, December.
  • Handle: RePEc:spr:inrvec:v:59:y:2012:i:4:p:389-407
    DOI: 10.1007/s12232-012-0160-2
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    References listed on IDEAS

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    1. Devesh Kapur, 2001. "Diasporas and Technology Transfer," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 2(2), pages 265-286.
    2. John Ruggie, 2008. "Protect, Respect and Remedy: A Framework for Business and Human Rights," Innovations: Technology, Governance, Globalization, MIT Press, vol. 3(2), pages 189-212, April.
    3. Ruggie, John Gerard, 2004. "Reconstituting the Global Public Domain: Issues, Actors and Practices," Working Paper Series rwp04-031, Harvard University, John F. Kennedy School of Government.
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    Cited by:

    1. Janice A. Hauge & Stanley Chimahusky, 2016. "Are Promises Meaningless In An Uncertain Crowdfunding Environment?," Economic Inquiry, Western Economic Association International, vol. 54(3), pages 1621-1630, July.
    2. Ibrahim, Mansor H. & Law, Siong Hook, 2014. "Social capital and CO2 emission—output relations: A panel analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 29(C), pages 528-534.

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    More about this item

    Keywords

    Well-being; Happiness; Social capital; Global social capital; Moral norms; Utilitarianism; I31; H41;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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