Local Trust has partnered with Demos and the national network for neighbourhood improvement (3ni) to produce a series of policy papers, exploring how strong social capital can improve social and economic outcomes at the neighbourhood level.
At a time when central and local government are seeking to develop new ways of countering challenges, ranging from disparities in educational attainment to sluggish growth, the role social capital plays and its importance merit further examination.
Initially commissioned by 3ni to support local authorities facing financial constraints coupled with rising public service demand, the papers provide evidence to support a new emphasis on social capital in both policy development and delivery. They examine its role in supporting communities to improve their prospects whilst preventing deep-seated issues from taking root.
What is social capital?
Social capital refers to the support and resources available to individuals and communities through their social networks. Strong social capital is essential to maintaining successful societies – it is developed and strengthened through engaging at the hyperlocal level, in our neighbourhoods and with our neighbours.
Social capital is both a determinant and outcome of social infrastructure – they are mutually reinforcing.
People interact via their local social infrastructure, such as community spaces and places, as well as online digital connections. This generates bonding and bridging forms of social capital, which then feed back into reinforcing and strengthening social infrastructure and overall cohesion.
Social capital: The hidden wealth of nations
This paper from Andy Haldane and David Halpern makes the economic case for investment in social capital. Reviewing the evidence on the economic benefits of stronger relationships, networks and trust at the individual, community and national levels, it argues that policymakers should adopt a social capital lens to unlock solutions to current and enduring socioeconomic challenges.
