LYCOS RETRIEVER 
Social Capital: Networks
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By definition, social capital is the aggregate of actual or potential resources that are linked to possession of a durable network of institutionalized relationships of mutual acquaintance and recognition. In a simplified from, social capital is the capital formed by social connections. Which is inter-convertible into other kinds of capitals. 9
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"…Developing countries with relatively low social capital seem more likely to have bad policy outcomes, low investment and slow growth. For any two countries with the same level of income, the one with more social capital tends to have more schooling, a more expensive financial system, better fiscal policy and a wider telephone network. Causation could run in both directions, but the results are suggestive."
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By the way, there is at least one school that has a regular, core-curriculum, college course on the subject of networking and social capital and that is the University of Michigan. The course is taught by Dr. Wayne Baker (a co-"owner" of HUMAX). Well done, Wayne.
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[I]f youknow someone at a company where you are applying for a joband this connectionhelps youget thejobat the company, you have used social capital. Social capital can alsohave negative effects. For example,if a social network is used for manipulative or destructive purposes that will affect the economy negatively, such as when a group colludes to fix market prices.
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These networks are a city's irreplaceable social capital. Whenever the capital is lost, from whatever cause, the income from it disappears, never to return until and unless new capital is slowly and chancily accumulated.
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The basic premise of social capital is that social networks have value. The more dense the network, the more likely members are to cooperate for mutual benefit (acting on norms of reciprocity).
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