9 terms

Lecture 9

STUDY
PLAY
Social Capital
A form of economic and cultural capital in which social networks are central, transactions are marked by reciprocity, trust, and cooperation, and market agents produce goods and services not mainly for themselves, but for a common good.
Economic Capital
Distinguished in relation to other types of capital which may not necessarily reflect a monetary or exchange-value.
Cultural Capital
Refers to non-financial social assets that promote social mobility beyond economic means. Examples can include education, intellect, style of speech, dress, or physical appearance.
Economic Capital -> Cultural Capital
+Paying for a study-abroad semester
+Paying for a college degree
+"Paying" opportunity costs as an unpaid intern
Economic Capital -> Social Capital
+Wealthy men on Millionaire Matchmaker
+Paying to join a country club
+"buying friends"
Cultural Capital -> Economic Capital
+A high school graduate gets a job requiring a high school degree
+A poet uses her knowledge of literature to get a good job at a major publishing firm
Cultural Capital -> Social Capital
+Because of your tasteful décor, you host (and make friends through) the neighborhood card game
+Because of your off-beat and eccentric parties, you meet people from all walks of life
+At the gallery opening, you meet someone who knows a good accountant for your business
Social Capital -> Economic Capital
+Finding a great job from a friend of a friend
Social Capital -> Cultural Capital
+Your mother's friend gets you a summer job at her upscale clothing boutique