Social Capital and Rural Development
Definition: The term social capital refers to the various norms, values and cultural aspects which govern the people living in a society and the institutions they are attached with. It is a kind of bonding that holds the societies and communities together and without which there can be no economic growth as per the desired expectations. Social Capital is considered as one of the most important capital available to the community for achieving developmental goals. Thus of the society successful builds up its social capital, then it can utilize other form of capital such as human capital, financial capital and environmental capital in an efficient way, thus mobilising the overall pace of the economic development. Factors Contributing in the Formation of Social Capital
a) Family: Being the basic unit of any community and society, family plays an important role as the source of economic and social well being of its members. Thus it is said to be the first building block in the formation of social capital for the larger society. b) Communities: Communities play a major role on providing a platform to the people in a society to interact among themselves and to generate social capital working towards a common goal. This platform is especially very important for the poor by giving a value addition to the human and physical capital. c) Ethnicity: Ethnic relation are an important factor in the formation of social capital. Whether it is the case of immigration, micro-enterprise development, tribal nepotism or racial conflict, ethic ties are a clearcut example of sharing of values & cultural bonding that contribute in the formation of social capital contribution of social capital in overall rural development. Rural Development
Agriculture activities being the main source of rural livelihood are greatly influenced by social capital. Since agricultural activities evolve a lot of participation and collective action by the farmers...
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