What are Social & Cultural Capital?
Social Capital Social capital refers to the organizations, structures and social relationships which comprise a community and the collective value of all ‘social networks’ and inclinations that arise from these linkages. Some examples of social capital are religion groups, ethnic associations, sports groups and fans, school clubs and other community groups. Social networks are built on cooperation, participation, understanding and trust. If unused, social capital deteriorates quickly (Ostrom, 2003). As such, social capital cannot be created instantly and takes time to develop and foster. Cultural Capital Cultural capital is the invention of shared experience of history, place, identity, heritage, traditions, values and customs. It is the inherent values held within a community, and its members, and as such is an essential component to fostering sustainable development because it represents the social wellbeing and cohesion of a community. It is therefore important to consider methods o
