The paper "Policy Implications of Different Types of Social Capital " is a great example of management coursework. Social capital has emerged as a significant concept in social sciences and the overall well-being of society. The ideas behind social capital have been credited for numerous benefits such as improved health, tax evasion reduction, better education programs, enhanced child welfare, reduced crime rates, and improved government efficiency. Nonetheless, social capital has drawn increased interest in the area of public policy. Social capital relates to social networks, norms, and trust that enable collaboration between or within groups in society.
Social capital can have different implications in the overall well-being of society including negative and positive. Public policy is aimed at enhancing social capital, meaning that understanding the ideas behind social capital can enhance public policy. The following essay aims to discuss the relevance of social capital ideas to contemporary public policy. It will address in particular the main policy implications of different types of social capital including bonding, bridging, and linking. Evidently, social capital tends to illustrate the numerous foundations of the principles used to develop social laws or in this case public policy. Before discussion policy implications of social capital, it is relevant to understand the concept of social capital.
According to the World Bank, a society’ s social capital comprises of relationships, institutions, values, and attitudes that govern connections among societies and contribute to social and economic development (Productivity Commission 2003). However, social capital is not merely the number of institutions that support society, but the glue or connection that holds them together. This means that institutions and society have mutual rules and values for social conduct conveyed in personal relationships, trust/dependence, and a shared sense of civic responsibility.
According to the Productivity Commission (2003), what is commonly agreed on about social capital is that social networks and norms are vital elements in its existence while trust is an important element still. Therefore, social capital can be viewed as a resource that enables cooperation between or within groups of people.
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