What is meant by 'social capital' in a group context?

The concept of 'social capital' in a group context is accurately captured by the idea of networks and relationships facilitating cooperation. Social capital refers to the value that comes from social networks, relationships, and the norms of reciprocity and trustworthiness that arise within a community or group. It emphasizes how interpersonal relationships and social connections can enhance the efficiency and effective functioning of a group.

In this view, social capital is important because it allows individuals to work together more effectively, share resources, and support one another, ultimately leading to positive outcomes for the group as a whole. Strong social ties can foster collaboration, increase access to information, and create a sense of belonging among members, all of which are crucial for collective action and achieving common goals.

This understanding of social capital highlights the importance of human connections over purely financial or individual achievement metrics, which are not central to this definition.