Social capital is a concept, the initial condition of which is the importance of social networks that interconnect different people. The concept refers to the collective value of all known communities (organizations) and the norms of reciprocity, in other words, what is their result - what things people can do for each other. Social cohesion is critical to society, its development and economic prosperity.
Social capital is not just the number of institutions that underlie society, it is the connecting element that keeps them together.
The unification of most definitions of the concept that can be found in special (economic, political, sociological) literature is precisely in the fact that all specific circumstances focus on social relations that have productive benefits.
Nevertheless, it does not have a clear, undeniable meaning for independent and ideological reasons, therefore, the own definitions that are accepted by researchers depend on the discipline, its intellectual origin, level of research. So, some authors consider the term itself as applicable to economic situations, not fully taking into account its multidimensional, multidisciplinary nature.
According to the French sociologist Pierre Bourdieu, the social world is an accumulated history. If it is not reduced to a series of alternating instantaneous, mechanical equilibria between agents, which are regarded as interconnected particles, then it is necessary to reintroduce the concept of capital (and with it the accumulation and all its consequences).
Based on the role of economic capital for social positioning, Bourdieu first introduced curious structures and terminology: cultural, social and symbolic capital, the concept of “habitus” (a system of strong acquired dispositions), “field” and “social space”, “symbolic power”, to reveal the dynamics of the balance of power in public life.
Social capital, by Bourdieu's definition, is a combination of actual resources that are associated with the possession of a solid network of institutionalized mutual relations (or group membership). This provides each participant, with the support of the team, a “right to trust” and credit in various meanings of the word.
The term “social capital” emphasizes not only warm and pleasant relations, but also a huge variety of certain benefits that arise from trust, reciprocity, informative cooperation associated with “social networks”.
The concept works in many ways. These are information flows: the acquisition of information about jobs, candidates applying for positions, the exchange of ideas in educational institutions, and so on.
Collective actions depend on interconnected chains. An example is the African American Church, which actively supported the principles of civil society . Collective action can contribute to the establishment of new interconnected groups of people. Solidarity, helping to modify the "I-mentality" into the "we-mentality", is actively encouraged.
When a group of neighbors informally looks after each other, shows willingness to help, or when Hasidic Jews exchange diamonds in their community, while they do not consider it necessary to check every gem, this is social capital in action. It can be found in friendly, religious, school, district, club and so on networks. “Where everyone knows you” is one of the most important aspects of the concept.
However, providing coordination and cooperation, it can have an important drawback. This applies to isolated groups of people who work for opposing goals (for society) that impede economic and social development. These groups are well known - corrupt officials, drug dealers, racketeers.