- originally, the means of production and possibly money available buy the means of
- 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
- 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
- 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
- characteristics of your neighborhoods influences you
- problem: hard to rule out spuriousness.