Most of the empirical studies undertaken to date have shown that the effects of social capital are not marginal and often in the same order of magnitude of other determinants of development outcomes, and this finding can legitimately be underscored.
However, in almost all cases, the effects of social capital come about because of its synergy with other assets. This is a critical consideration to keep in mind when developing policy recommendations pertaining to social capital.
This quote is excerpted from a report composed by the World Bank. The reason I pulled it out is because it underscores the complementarity of social capital and other kinds of capital.
Even though my pal Justin has reasonably imagined that “you don’t need money if you have enough friends”, considering how social capital makes all your other assets much more valuable is a little more practical ;-)
