In what ways may social media and/or social networks impact an individual’s ability to create and leverage social capital?
According to John Field (2003: 1-2), the central idea is that 'social networks are a valuable asset'. Interaction enables people to build communities, to commit themselves to each other, and to knit the social fabric. Michael Woolcock, a social scientist with the World Bank (and Harvard) successfully categorized and described linking social capital as that which reaches out to unlike people in dissimilar situations, such as those who are entirely outside of the community, thus enabling members to leverage a far wider range of resources than are available in the community. (Woolcock 2001: 13-4). Social capital, especially the bridging and bonding social capitals have been reported to decline in the United States and other parts of the world. However, social networks have provided the mechanisms that hold the society together as a social unit.
Following the aforementioned definition of social capital, and considering that of the linking social capital, social networks create a platform where people from different communities and parts of the world come together to discuss their social aspects of life. Social networks such as Facebook, Twitter, Google+, and LinkedIn among several others offer the platform for meeting new people from different parts of the worlds, members of the same society, and even family members.
Social networks leverage social capital since it not only offers sufficient room for discussions, but also strengthens the breaking bridging and bonding social capital. Today, with the increasing technology, most people can access the internet and share views, interact with family members staying in far locations, and hold conference meetings through Skype.
