Overview
Social capital plays a crucial role in enhancing economic performance by fostering trust, collaboration, and community engagement. It consists of the networks and relationships that enable individuals and groups to work together effectively, leading to improved productivity and innovation. Understan...
Key Terms
Example: Strong social capital in a community can lead to better cooperation among residents.
Example: Family support during economic hardship is an example of bonding social capital.
Example: A community leader connecting various cultural groups to promote collaboration.
Example: A nonprofit organization partnering with local government to improve services.
Example: GDP growth is a common indicator of economic performance.
Example: Businesses collaborating on a project can lead to innovative solutions.