The Concept of Social Capital

The concept of social capital has been widelyembraced by academics, activists and governments. It promises alanguage to unite economics and sociology, and a resource thatwill help explain poverty, social exclusion and civic distrust. Yetsome suspect a sinister process of colonisation, where the methodsand ideology of market economics are imposed upon the broader socialsciences. This book argues the concept’s origins lie within therational choice tradition, but makes a distinction between themethodological and ideological development of the concept. While socialcapital theory may present an opportunity for social theorists toengage with and learn from economists, the development of the conceptalso suggests political commitments to individualism and asuspicion of the state that may cause progressive theorists topause for thought. Looking to contemporary Australian politics, thisbook argues that these same dynamics help us understand the evolvingdebates around the impact of the market on community, fromeconomic rationalism and community development to the recentThird Way debate.