LYCOS RETRIEVER 
Social Capital: Trust
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Social capital is not a new concept, but was actually used on and off during the entire 20th Century. The (obscure) rural educator Lyda J. Hanifan mentioned it in the 1910s, the economist Yoram Ben-Porath in the 1930s, the social-psychologist John R. Seeley in the 1950s and Jane Jacobs famously used it in the 1960s to describe ‚public characters’ being blessed with social capital and ... capable to prevent urban decline. However - as a metaphor encompassing the very basics of social scientific thought - it is also convincing to locate the roots of social capital much further back. There are indeed striking similarities to Marx and Engels’ notion of ‘bounded solidarity’, Durkheims’ ‘value introjection’, the Weberian idea of ‘enforceable trust’ and Simmels’ concept of ‘reciprocity transactions’. One thing these conceptions seem to have in common is that they point to the value added form of social associations. This might be considered as one of the ultimate reason for social scientific thinking.
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As noted above, social capital is more heavily pervaded by externalities than other forms of capital, so measurement of a nation's stock of social capital must take these externalities into account. The radius of trust can be thought of as a type of positive externality (which we will therefore designate as rp) because it is a benefit that accrues to the group independently of the collective action that the group formally seeks to achieve. For example, a sect that encourages its members to be honest and reliable will foster better business relationships when they deal with each other economically, in addition to the sect's religious objectives.
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Most organizations make use of social capital networks for these purposes, but in actuality tap only a tiny fraction of their full potential. This is because for most organizations over 99% of their extended trust networks are invisible and unusable for any given person in the network.
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A problem with the term social capital is its widely differing definitions. Some political scientists use the term as identical the idea of civil society and trust. To others, social capital has a separate meaning.
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Internally, social capital can be trusting relationships and a culture of confidence between the executives and workforce. It can ... be a tight network of relationships between members of a group that facilitates information circulation and monitoring.
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This dire warning is rooted in the absence of social capital in southern Nevada , because the power of developers to obtain and use land for increasingly expensive housing goes unchecked by elected and appointed public officials. They do not feel morally a part of a share moral culture, but instead praise and honor the developers, saying “growth is good.” Increasingly wide-spread public disapproval of these abuses of trust and these harmful uses of public authority and of available space and resources for the benefit of a narrow group has been ignored and therefore ineffectual.
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