Lately, I have been thinking about the concept of “social capital”. Putnam’s definition is (1994. p167):
“Like other forms of capital, social capital is productive, making possible the achievement of certain ends that would not be attainable in its absence. . . .For example, a group whose members manifest trustworthiness and place extensive trust in one another will be able to accomplish much more than a comparable group lacking that trustworthiness and trust. . . . In a farming community. . . Where one farmer got his hay baled by another and where farm tools are extensively borrowed and lent, the social capital allows each farmer to get his work done with less physical capital in the form of tools and equipment”
Yet the use of “capital” here seems problematic for me. Capital is capital when it is productive. Who decides what is productive, and productive for whom? According to the definition I would say that it is “self-defined by a purposive collectivity”. In other words a farming collectivity is productive because they are defined as farmers and their purpose is to farm. That example is easy.
Here is a hard one. Is the social protest part of the social capital? Is social protest “productive”, thus "capital"? Is it productive in Spain, Turkey, Brazil, or Chile?