The Three ‘R’s of Social Capital: A Retrospective

Abstract

Despite the wealth of studies on social capital, an inclusive understanding remains necessary. With this objective in mind, this study employs a qualitative approach and, after reviewing the evidence, proposes an integrated view of social capital. From that integrated view, social capital appears to be a holistic concept: as a collection of resources, relations, and returns that can be mobilised as a result of agents’ actions and contacts in an agent-controlled system in accordance with mutually agreed-upon but reinforced rules, obligations, and norms in order to access a range of social potential. Essentially, this definition of social capital emphasises three components: resource, relation, and return, while also emphasising the importance of actions and contacts. Given how significant it is that the concept of social capital is constantly evolving and that researchers in this field have continued to study it, it is essential to comprehend the concept of social capital as a whole and to recognise its defining features. As a result, the insights gained from this article can be applied to the study of social capital in sociology, economics, and related fields, advancing theoretical frontiers.