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Welfare and well-beingSocial value in public policy$
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Bill Jordan

Print publication date: 2008

Print ISBN-13: 9781847420800

Published to Policy Press Scholarship Online: March 2012

DOI: 10.1332/policypress/9781847420800.001.0001

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Social capital: the missing link?

Social capital: the missing link?

(p.73) four Social capital: the missing link?
Welfare and well-being

Bill Jordan

Policy Press

This chapter discusses how the social value of collective good can be explained within the economic model. It focuses on the attempts of the social capital theory to elucidate the beneficial effects of certain social contexts — that social networks have value to those who participate in them. The purpose of this chapter is to show why social capital theory falls short of its declared aims. However, it also seeks to clarify why it is difficult to reinterpret welfare without challenging the basis of the economic model in more fundamental ways that social capital theory can muster. Among the topics discussed herein include: incorporating social capital; social capital and well-being; groups, clubs and change.

Keywords:   social value, collective good, economic model, social networks, social capital theory

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