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LEC 7.doc

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Alexandra Marin

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lec 7 introducing capital - originally, the means of production and possibly money available buy the means of production - capital is anything including the means of production that adds value to labour. - for marx, it is ‘production’ the surplus value. - now, it is not only financial value but also meeting instrumental goals. - instrumental goals is something we wanna do. - more broadly: things that add value to labour/make labour in pursuit of some goals more effective. - human capital - attributes of persons: education, experience, knowledge, skill, talent - social capital - aspects of social structure (between centrality, can use 2 ties as advantage, stop information linkage etc) or resources accessible through social ties. - resources access through networks. - cultural capital - - knowledge of culture or implicit - understandings of the way things are done within a culture. difference between cultural and human, in cultural is what you define yourself in the group, getting identified by others, where in human capital is for individual motives, to pursue a goal. - social capital and finishing high school - 1. network ‘closure’ (connections between parents, friends, teachers) creates - obligations - sanctions - information channels - 2. students with more network closure (dense network) are less likely to drop out than students with less network closure. ← - understanding neighborhood effects - studying teen boys in high poverty and non-high-poverty neighborhoods to un- derstand neighborhood effects on teen pregnancy and dropping out of high school. - characteristics of your neighborhoods influences you - problem: hard to rule out spuriousness. ←
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