By Ben Fine
The belief of Social Capital is an try and comprise social concerns into mainstream financial pondering. Its proponents consider that social components are adequately quantifiable. So, they use the compex algebra and information liked of mainstream financial concept and degree 'units' of healthiness care or schooling within the comparable manner that they'd equipment or transport.
Ben Fine's major argument during this e-book is that such concers can't be judged when it comes to mathematical equipment and that to attempt t odo so is overly simplistic.
Fine assesses the impression of Social impression around the social sciences and indicates how monetary research is being subsumed into those components and the way pondering in sociology and politics affects upon economics.
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Additional resources for Social Capital Versus Social Theory: Political Economy and Social Science at the Turn of the Millennium (Routledge Studies in Contemporary Political Economy)
Sample text
In this, admittedly crude, fashion, social capital can be seen to be an intellectual product of the crisis of faith in both the capitalist state and the capitalist market in late-twentiethcentury capitalism. It represents a desire in both analytical and policy terms to find alternatives to the neo-liberal agenda of market versus state. Ironically, however, whilst a creature of the turn of the millennium, attempts have been made to trace back first use of the term “social capital” to earlier times.
Yet, remarkably, despite being the most unlikely candidate for this role, the third section shows that Becker has also been in the vanguard in deploying the notion of social capital. Why is this? The answer is that social capital allows Becker to accommodate an even wider range of economic and social phenomena whilst retaining a continuing commitment to methodological individualism or economic rationality. In effect, social capital becomes a catch-all for anything that improves life but that has not already been covered by those elements of personal capital that provide the starting point for understanding capital.
Such an understanding of the (market) economy can also be extended to non-market or social relations, with the latter treated as if a market. Whether I study or watch television is a choice to invest or to consume that parallels the decision whether Bringing the social back in 41 to use my income to spend or to save. At the forefront of such an understanding of society as if a market, ground out from atomised individual decision making, has been Gary Becker. In this respect, the results of his early endeavours are presented in the next section.
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