Social capital refers to shared norms, trust, and networks. While there is a general recognition that it is important, understanding how social capital promotes economic and human flourishing remains unclear, particularly as the digital economy expands and more work is done remotely, rather than face-to-face.
First, I review the theoretical arguments and empirical evidence on social capital and its importance for economic and human flourishing. Second, I examine several unique illustrations of social capital, including: (i) social capital during times of crisis, (ii) social capital through the promotion of religious freedom, and (iii) the unintended and often adverse effects of networks as propagation mechanisms of fear through social media. Third, I present new and ongoing research about a new way of measuring social capital using high-frequency and disaggregated cell phone data. Here, the frequency and composition of locations that individuals visit in a community is informative about the intensity and breadth of social capital. Using this new measure of social capital, I show how social capital changed over the pandemic as a result of state policies in the United States that may have had unintended and persistent consequences. Finally, I discuss how the expanding digital economy will alter the formation of social capital and ways that federal and local governments may consider promoting it.
You may visit the LKYSPP
Facebook LIVE page to view the live stream and share your comments and questions.