The embodiment of social capital at individual and communal levels: Action, rewards, inequality, and new directions
09 Sep 2019-International Journal of Sociology and Social Policy (Emerald Publishing Limited)-Vol. 39, pp 812-830
TL;DR: This paper reviewed the intersections and departures between communal level and individual level conceptualizations of social capital according to the social dynamics of action within social exchanges that they stimulate, the processes by which social capital is activated/mobilized and the rewards they yield, and their linkages to inequality through network diversity.
Abstract: The purpose of this paper is to review the study of social capital focused on the level at which it is embodied, cross-comparing two prominent camps that have emerged in the social capital literature: a communal level and an individual level.,This paper reviews the intersections and departures between communal level and individual level conceptualizations of social capital according to the social dynamics of action within social exchanges that they stimulate, the processes by which social capital is activated/mobilized and the rewards they yield, and their linkages to inequality through network diversity.,This paper articulates new directions for future research in social capital: more analytical precision for studying returns to social capital; more efforts to transcend the individual-communal divide; the depreciation of social capital or tie decay; and recognizing the importance of ties whose value does not come from the ability to provide instrumental gain, but just from their very existence.,Social capital has informed many influential agendas in the social sciences, but the sheer volume of which has largely gone unscoped. This paper reviews this literature to provide an accessible introduction to social capital, organized by social processes foundational to sociology and a novel contribution to the literature by articulating new directions for future research in the area.
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TL;DR: In this article, the authors determined the current contradictions and perspectives of convergence of social development and economic growth for the purpose of formation of the scientific and methodological basis of targeted and efficient state regulation of these processes, which would allow for their harmonization and systemic acceleration.
Abstract: The purpose of the research is to determine the current contradictions and perspectives of convergence of social development and economic growth for the purpose of formation of the scientific and methodological basis of targeted and efficient state regulation of these processes, which would allow for their harmonization and systemic acceleration.,The authors use correlation analysis for calculating the correlation of the rate of economic growth (according to the forecast of the IMF) and the indicators of qualify of life, calculated by Numbeo, and the index of economy digitization, calculated by the IMD. The research is performed based on the 2020 data. On the basis of the established dependencies, the authors use the method of hierarchy analytics of T.L. Saaty for determining the contribution of social development into economic growth.,The authors substantiate the existence of close interconnection between social development and economic growth and determine substantial differences in this interconnection in developed countries (correlation – 52%), where only purchasing power of population and society's digitization contribute into acceleration of economic growth, and in developing countries (correlation – 48%), where quality of life, environment protection, living standards and society's development level contribute to acceleration of economic growth.,It is proved that in the course of the increase of the level of social development, it contradicts economic growth – due to which the possibilities of state regulation of the interconnection of these processes are limited. The authors develop a conceptual model of convergence of these processes through the prism of phases of the economic cycle. The compiled model reflects the authors' recommendations at each phase of the economic cycle, due to which state regulation of socioeconomic development will become targeted and efficient.
10 citations
TL;DR: In this paper, the authors study the problem of socioeconomic inequality from the positions of the neo-institutional economic theory, to determine the causal connections of emergence and manifestation of this problem as a barrier on the path of sustainable development and to develop institutional measures for its solution based on state regulation.
Abstract: The purpose of the paper is to study the problem of socio-economic inequality from the positions of the neo-institutional economic theory, to determine the causal connections of emergence and manifestation of this problem as a barrier on the path of sustainable development and to develop institutional measures for its solution based on state regulation.,The scientific and methodological basis of this research is based on regression analysis, which is used for creating and analyzing the regression curves. For the fullest coverage of countries of the world and provision of high representation of the research results, the objects of the research are countries from each category that were distinguished according to their position in the global rating of countries as to the index of sustainable development, calculated and compiled by Sustainable Development Solutions Network (2019).,It is substantiated that financial inequality is a result of violation of the principles of social justice—primarily, in the labor market. The institutional approach, which is used for studying the problem of socio-economic inequality, allows presenting this problem as a result of the action of social institutes with own system of rules and norms and offering the institutional measures of regulation, which are to influence the rules and norms in society in the labor market. Due to this, the object of regulation is not the consequence but the reasons—and better and long-term results are achieved.,It is proved that social justice is the key condition of overcoming socio-economic inequality, formation of inclusive society and achievement of balance of the global economic system—thus opening a path to sustainable development. Four “institutional traps” are determined, which establish the practices of violation of the principles of social justice in the system of norms and rules of behavior of the labor market's participants. The authors determine perspectives and directions and offer measures of state regulation of the institutes of socio-economic inequality for its overcoming and provision of sustainable development of national economy and the global economy.
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TL;DR: In this paper, the authors determined the social consequences of economic globalization based on experience of developed and developing countries and determined the perspectives of optimization of this process through regulation, the research method is correlation analysis, for it allows determining dependencies between the indicators without requirements to their close mutual dependence.
Abstract: The purpose of the research is to determine the social consequences of economic globalization based on experience of developed and developing countries and to determine the perspectives of optimization of this process through regulation,The research method is correlation analysis, for it allows determining dependencies between the indicators without requirements to their close mutual dependence The research objects are top ten developed and top ten developing countries as to the KOF globalization index in 2019,It is determined that, contrary to high economic risks, social risks of globalization are very low Instead of this, in the course of globalization the social advantages increase – they are expressed in the form of harmonization of the labor market, development of digital society and increase of population's quality of life – in particular, provision of balance of the global society by leveling the social disproportions between developed and developing countries It is substantiated that consequences that stimulate the increase of population's quality of life in developing countries are more expressed than in developed countries This means that developing countries, which are traditionally more inclined to limiting the influence of globalization on them due to economic reasons, have to reconsider their foreign economic policy and include the measures on stimulation of globalization in the interests of social development Other than that, the differences in consequences for developed and developing countries are minimal There is no imbalance of consequences that is peculiar for the economic sphere, in which the main advantages are obtained by developed countries, and developing countries bear most of the costs From the social point of view, globalization could be characterized as a positive phenomenon of modern times,The offered authors' recommendations will allow optimizing the influence of globalization on the social environment in developed and developing countries and ensuring usage of economic globalization as a mechanism of implementation of the global goals in the sphere of sustainable development
6 citations
TL;DR: In this article, the authors developed the scientific and methodological provision for measuring and managing the social effectiveness of the market economy and its approbation, with foundation on the classical idea of effectiveness as a ratio of results to costs, and with acknowledgment of incompatibility and inequality of the elements of social effectiveness and the necessity of their ranking.
Abstract: The purpose of the paper is to develop the scientific and methodological provision for measuring and managing the social effectiveness of the market economy and its approbation.,With foundation on the classical idea of effectiveness as a ratio of results to costs, and with acknowledgment of incompatibility and inequality of the elements of social effectiveness and the necessity of their ranking, the authors' formula for its evaluation is presented, and the methodology of its application is offered.,It is substantiated that the economic component of effectiveness of the market economy might have no connection with its social component, moreover, these two components could enter a vivid contradiction. This contradiction is especially vivid in countries with developed market economy. As the example of the USA shows despite the high global economy its market economy shows average statistical social effectiveness. While the experience of Russia shows that even with moderate global competitiveness of the market economy, it is possible to achieve its high social effectiveness. Advantages are achieved due to other social effects – active development of human potential and using the opportunities of the digital economy for social purposes. Social effectiveness of the Russian economy is assessed at 1.602.,The determined differences in the level of social effectiveness of developed and developing market economy predetermined the necessity for applying different measures to manage this effectiveness. A cyclic algorithm for managing the social effectiveness of developed and developing markets has been developed from the examples of the USA and Russia in 2019. It shows that perspectives of increasing the social effectiveness of certain market economies and leveling the disproportions of social effectiveness in the modern global economic system are connected to change of the measures of management with results and costs and for avoiding their mutual neutralization, the authors offer scientific and practical recommendations.
5 citations
TL;DR: In this article, the authors examined how financial technology knowledge from foreign firms flows into and among elite commercial banks in Hong Kong's financial sector to drive innovation, and found that older banks and banks with more connections to firms inside Asia are more likely to import FinTech.
Abstract: This paper aims to examine how financial technology (FinTech) knowledge from foreign firms flows into and among elite commercial banks in Hong Kong’s financial sector to drive innovation.,Using social network analysis and regression analysis on a novel database of patents held by Hong Kong’s elite commercial banks, this paper examines the relationships between network position and FinTech knowledge flow.,This paper finds four untold patterns of innovation and inequality in Hong Kong’s financial sector: only three banks are responsible for all the FinTech knowledge entering Hong Kong; most foreign FinTech comes from the USA through Hong Kong and Shanghai Banking Corporation, whereas most FinTech from China enters through Fubon Bank and Development Bank of Singapore; older banks and banks with more connections to firms inside Asia are more likely to import FinTech; the most beneficial sources of FinTech for a bank’s network position are firms from outside Asia.,Despite the well-documented volumes of cross-border and cross-continental movement of financial institutions in Hong Kong, there is little work on the knowledge flows that underwrite this mobility. This paper addresses this gap by using FinTech knowledge flows to map the distribution of innovation, network position and competitive advantage in Hong Kong’s financial sector.
5 citations
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TL;DR: In this paper, it is argued that the degree of overlap of two individuals' friendship networks varies directly with the strength of their tie to one another, and the impact of this principle on diffusion of influence and information, mobility opportunity, and community organization is explored.
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TL;DR: Social capital has a definite place in sociological theory as mentioned in this paper, and its role in social control, in family support, and in benefits mediated by extra-familial networks, but excessive extensions of the concept may lead to excessive emphasis on positive consequences of sociability.
Abstract: This paper reviews the origins and definitions of social capital in the writings of Bourdieu, Loury, and Coleman, among other authors. It distinguishes four sources of social capital and examines their dynamics. Applications of the concept in the sociological literature emphasize its role in social control, in family support, and in benefits mediated by extrafamilial networks. I provide examples of each of these positive functions. Negative consequences of the same processes also deserve attention for a balanced picture of the forces at play. I review four such consequences and illustrate them with relevant examples. Recent writings on social capital have extended the concept from an individual asset to a feature of communities and even nations. The final sections describe this conceptual stretch and examine its limitations. I argue that, as shorthand for the positive consequences of sociability, social capital has a definite place in sociological theory. However, excessive extensions of the concept may j...
11,460 citations
TL;DR: In this article, the authors proposed a method to solve the problem of the "missing link" problem in the context of Haifa University, Israel, and their Ph.D. dissertation.
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TL;DR: In this article, the authors outline the mechanism by which brokerage provides social capital, and show that between-group brokers are more likely to express ideas, less likely to have ideas dismissed, and more likely have ideas evaluated as valuable.
Abstract: This article outlines the mechanism by which brokerage provides social capital. Opinion and behavior are more homogeneous within than between groups, so people connected across groups are more familiar with alternative ways of thinking and behaving. Brokerage across the structural holes between groups provides a vision of options otherwise unseen, which is the mechanism by which brokerage becomes social capital. I review evidence consistent with the hypothesis, then look at the networks around managers in a large American electronics company. The organization is rife with structural holes, and brokerage has its expected correlates. Compensation, positive performance evaluations, promotions, and good ideas are disproportionately in the hands of people whose networks span structural holes. The between-group brokers are more likely to express ideas, less likely to have ideas dismissed, and more likely to have ideas evaluated as valuable. I close with implications for creativity and structural change.
4,442 citations
12 Jul 2017
TL;DR: In this paper, a review of social capital as discussed in the literature, identifies controversies and debates, considers some critical issues, and provides conceptual and research strategies for building a theory.
Abstract: This chapter reviews social capital as discussed in the literature, identifies controversies and debates, considers some critical issues, and provides conceptual and research strategies for building a theory. It argues that such a theory and the research enterprise must be based on the fundamental understanding that social capital is captured from embedded resources in social networks. Such measurements can strength of tie network bridge, or intimacy, intensity, interaction and reciprocity be made relative to two frameworks: network resources and contact resources. There are many other measures, such as size, density, cohesion, and closeness of social networks which are candidates as measures for social capital. Network locations are necessary conditions of embedded resources. By considering social capital as assets in networks, the chapter discusses some issues in conceptualization, measurement, and causal mechanism. A proposed model identifies the exogenous factors leading to the acquisition (or the lack) of social capital as well as the expected returns of social capital.
3,733 citations