The Economics Book

IN CONTEXT

FOCUS

Society and the economy

KEY THINKER

Robert Putnam (1941–)

BEFORE

1916 The term “social capital” appears in an article by US educator Lyda J. Hanifan.

1988 US sociologist James Coleman describes social capital, applying it to the phenomenon of high school dropouts.

AFTER

1999 US political scientist Francis Fukuyama argues that social capital has not declined in developed countries such as the US.

2001 British Marxist economist Ben Fine criticizes the concept of social capital.

2003 British sociologist John Field says social capital theory means “relationships matter.”

The word “capital” is most commonly used to refer to the machinery used ...