Chapter

Social capital: the missing link?

Bill Jordan

in Welfare and well-being

Published by Policy Press

Published in print September 2008 | ISBN: 9781847420800
Published online March 2012 | e-ISBN: 9781447304210 | DOI: http://dx.doi.org/10.1332/policypress/9781847420800.003.0005
Social capital: the missing link?

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This chapter discusses how the social value of collective good can be explained within the economic model. It focuses on the attempts of the social capital theory to elucidate the beneficial effects of certain social contexts — that social networks have value to those who participate in them. The purpose of this chapter is to show why social capital theory falls short of its declared aims. However, it also seeks to clarify why it is difficult to reinterpret welfare without challenging the basis of the economic model in more fundamental ways that social capital theory can muster. Among the topics discussed herein include: incorporating social capital; social capital and well-being; groups, clubs and change.

Keywords: social value; collective good; economic model; social networks; social capital theory

Chapter.  6970 words. 

Subjects: Health, Illness, and Medicine

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