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Social Capital And Capitalist Economies

Author

Listed:
  • Ben Fine

    (Department of Economics, School of Oriental and African Studies, University of London)

  • Costas Lapavitsas

    (Department of Economics, School of Oriental and African Studies, University of London)

Abstract

The concept of social capital has become very influential in social science and is also increasingly deployed in analysis of transition economies. Its appeal derives from the attempt to relate the functioning of the capitalist economy to the non-economic relations of capitalist society. This article finds that the concept of social capital is inadequate for this purpose. By tracing the intellectual history of social capital, it is shown that the concept contains confusion with regard to both capital as economic phenomenon and capitalist social relations. Social capital conflates economy and society and hinders, rather than facilitates, analysis of capitalist society.

Suggested Citation

  • Ben Fine & Costas Lapavitsas, 2004. "Social Capital And Capitalist Economies," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 2(1), pages 17-34.
    • Handle: RePEc:seb:journl:v:2:y:2004:i:1:p:17-34
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    File URL: http://www.asecu.gr/Seeje/issue02/ben%20fine.pdf
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    References listed on IDEAS

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    1. Tarrow, Sidney, 1996. "Making Social Science Work Across Space and Time: A Critical Reflection on Robert Putnam's Making Democracy Work," American Political Science Review, Cambridge University Press, vol. 90(2), pages 389-397, June.
    2. Joseph E. Stiglitz, 1999. "More instruments and broader goals: moving toward the Post-Washington Consensus," Brazilian Journal of Political Economy, Center of Political Economy, vol. 19(1), pages 101-128.
    3. Stephen Samuel Smith & Jessica Kulynych, 2002. "It May be Social, But Why is it Capital? The Social Construction of Social Capital and the Politics of Language," Politics & Society, , vol. 30(1), pages 149-186, March.
    4. Evans, Peter, 1996. "Government action, social capital and development: Reviewing the evidence on synergy," World Development, Elsevier, vol. 24(6), pages 1119-1132, June.
    5. Evans, Peter, 1996. "Introduction: Development strategies across the public-private divide," World Development, Elsevier, vol. 24(6), pages 1-1, June.
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    Citations

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    Cited by:

    1. Mazumdar, Surajit, 2008. "Crony Capitalism: Caricature or Category?," MPRA Paper 19626, University Library of Munich, Germany.
    2. Natarajan, Nithya & Newsham, Andrew & Rigg, Jonathan & Suhardiman, Diana, 2022. "A sustainable livelihoods framework for the 21st century," World Development, Elsevier, vol. 155(C).
    3. Ashley B. Gripper, 2023. "Practices of Care and Relationship-Building: A Qualitative Analysis of Urban Agriculture’s Impacts on Black People’s Agency and Wellbeing in Philadelphia," IJERPH, MDPI, vol. 20(6), pages 1-19, March.

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    More about this item

    Keywords

    social capital; social networks; post-Washington Consensus; World Bank;
    All these keywords.

    JEL classification:

    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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