Social Capital as Factor of Evolutionary Changes within the Economic Theory of Organization
Social Capital as Factor of Evolutionary Changes within the Economic Theory of Organization

Summary/Abstract: By employing the concept of social capital, the author argues that the best meas-ure of theoretical development for any economic theory of organization is its contribution in the understanding of social capital. In this way, social capital is becoming one of the key factors of evolutionary changes within the economic theory of organization. The author further wishes to point out how the evolutionary progress in economic theory of organization brings about increasingly improved understanding of relations in the theoretical models. However, the concession required for this improvement is a lower degree of theoretical generalization and more intense heterogeneity of the economic theory itself. The less effort an economic theory of organization devotes to being theoretically impeccable, the more abundant are the increasing returns it yields through its findings with regard to the aspect of social capital.

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