Social capital refers to a kind of capital that economists had largely overlooked: the social ties among individuals and the norms of reciprocity and trustworthiness that arise from those ties.38 When everything else is equal, a firm with more social capital will outcompete its less cohesive and less internally trusting competitors (which makes

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as Bob Putnam lays out in Bowling Alone, participation in parent-teacher organizations has dropped from more than 12 million in 1964 to about 7 million. Despite decades of increased urban migration bringing us more physically proximate to each other, we don’t know each other better — instead, our reported feelings of loneliness have shockingly... See more

According to Putnam, the more we prioritize our private bubbles over public life, the more we disconnect from our local surroundings. This has weakened American democracy. Fewer people are engaged in politics, and those who do are often at the political poles. With less social capital, our neighborhoods are connected by fewer informal, reciprocal... See more