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Social capital is a concept used in sociology and economics to define networks of relationships which are productive towards advancing the goals of individuals and groups. [1] [2] It involves the effective functioning of social groups through interpersonal relationships, a shared sense of identity, a shared understanding, shared norms, shared values, trust, cooperation, and reciprocity.
Pierre Bourdieu explains social capital as the degree to which actors are capable of subsisting together in social structures that are often heterogeneous in nature. Where symbolic capital is earned on an individual basis and may fluctuate widely between members in a community, social capital is the overarching sense of trust and cooperation ...
Social reproduction describes the reproduction of social structures and systems, mainly on the basis of particular preconditions in demographics, education and inheritance of material property or legal titles (as earlier with aristocracy). Reproduction is understood as the maintenance and continuation of existing social relations.
Embodied cultural capital comprises the knowledge that is consciously acquired and passively inherited, by socialization to culture and tradition. Unlike property, cultural capital is not transmissible, but is acquired over time, as it is impressed upon the person's habitus (i.e., character and way of thinking), which, in turn, becomes more receptive to similar cultural influences.
The position of each particular agent in the field is a result of interaction between the specific rules of the field, agent's habitus and agent's capital (social, economic and cultural). [5] Fields interact with each other, and are hierarchical : most are subordinate to the larger field of power and class relations.
Social networks facilitate access to resources and protect the commons, whilst co-operation makes markets work more efficiently. [2] Social capital has been thought of as women's capital as whereas there are gendered barriers to accessing economic capital, women's role in family, and community ensures that they have strong networks.
Structural holes is a concept from social network research, originally developed by Ronald Stuart Burt. A structural hole is understood as a gap between two individuals who have complementary sources to information. The study of structural holes spans the fields of sociology, economics, and computer science.
With higher social capital comes a greater amount of social interdependence, which increases productivity and economic growth. [46] For example, one study found that high school drop out rates in areas within the United States with better social networks were lower than in areas with weaker social networks.