Description
Book SynopsisIs social capital the 'missing link' in economics? In this vital new book, the authors argue that the 'forgotten' production factor of social capital is as crucial in economic decision-making as the other more traditional factors of production such as physical, financial and human capital. They attempt to bridge the gap between theory and reality by examining the main factors that determine entrepreneurship, co-operative movements and the creation and destruction of social capital.
To address the question of how social capital is created and destroyed, the authors develop an interdisciplinary approach combining political science, economics, anthropology, sociology and history. They show how bridging social capital enforces personal contact and acts as a lubricator for human co-operation, whereas bonding social capital enforces distance between people, increasing mistrust and, consequently, transaction costs. They demonstrate how entrepreneurship can facilitate voluntary collective action and create inclusive forms of social capital. Crucial in this respect is that entrepreneurs are motivated not only by economic incentives but also by social motives. Applying historical and contemporary case studies, they identify the serious human and economic consequences that result when social capital is disregarded. The authors believe that the implications of such a discovery demand a re-evaluation of traditional economic theory.
This book will contribute substantially to academic and popular debates on social capital and will be an invaluable source of reference for all social scientists. It will particularly appeal to students and scholars of public policy, economics, sociology, political science, anthropology and history.
Trade Review'The book offers a coherent historical and interdisciplinary perspective on social capital that is illustrated through the emergence and decline of cooperative movements in Denmark (and Poland). The strength of the book lies in its ability to provide an interdisciplinary account of social capital, which, unlike many neoclassical studies of social capital, does not attempt to quantify the concept to make it fit traditional econometric regressions.' -- Quentin M.H. Duroy, Heterodox Economics Newsletter
'The lengths that Svendsen and Svendsen have gone to show the importance and depth that social capital has is wonderful in its scale. At once they make an economic, sociological and political argument for the contribution social capital can make to society. . . Svendsen and Svendsen's book is refreshingly reasoned amongst books examining social capital. Their argument is laid down clearly, and by focusing on one specific study, they isolate a term that runs the danger of overuse because of its expansive implications.' -- David Quartner, Economic Affairs
'This book gives a very important contribution through its cross-disciplinary approach. I see the book as especially interesting from an entrepreneurship perspective. The book's thorough description of social capital as an overlooked and important production factor makes very interesting suggestions for entrepreneurship research.' -- Lars Ronning, International Small Business Journal
'This is a brave book, as it takes on a broad theoretical and societal problem that touches upon many different specializations. . . This reviewer is sympathetic towards efforts to make broad contributions to social science and practice rather than only to narrow academic specializations. It is important that such work can be done and encouraged.' -- Per Davidsson, The Journal of Socio-Economics
Table of ContentsContents: Preface Foreword by Elinor Ostrom 1. Introduction: The ‘Missing Link’ 2. Social Capital and Entrepreneurship 3. Co-operative Movements and Social Capital in Denmark and Poland 4. Bridging Social Capital and Entrepreneurship in Rural Denmark 5. Bonding Social Capital and Centralization: The Post-War Danish Co-operative Movement 6. Bonding Social Capital and Theory Effects: The Danish Village Society Movement 7. Bonding and Bridging Social Capital: A Contemporary Fieldwork Study 8. Conclusion Bibliography Index
