Conceptual and Theoretical Foundations of Social Capital
Social capital is a complex multifaceted and litigious theory, discussed in the Social Sciences and the Humanities. It is a theory increasingly researchers questioned its scientific legitimacy and yet paradoxically many other researchers continuously use it as a conceptual and theoretical framework to explain the structural and functional operations of communities. This Chapter discusses work done on the theory. It covers some of the theoretical controversy with a goal of aligning its conceptualization and distinguishing it from other types of capitals. The Chapter is organized first the basic theoretical and conceptual foundations of social capital are described. The aim is to present the reader with a basic understanding of what constitutes social capital, by opening discussion about various forms of capital(s)—as discussed in the disciplines of Economics and Sociology. Second, the Chapter discusses the origin of the theory as well as the work of key scholars who have contributed to the development of the theory. Furthermore, in order to identify the strengths and the weaknesses of the theory, the Chapter provides the reader with analysis of benefits and shortcomings of social capital both as a theoretical and analytical tool for studying communities.