AMH-2097 Lecture Notes - Lecture 9: Social Capital, Greatest Generation
Document Summary
Olson: rational, self-interest individuals even those who agree with the objective or goal of a group likely will not work to help the group achieve its objective or goal. If all individuals act selfishly, they get worse outcomes than if they all cooperate. Hardin: disagrees with followers of adam smith who believe that those decision reaches individually will also be the best decision for an entire society argues that to preserve other freedoms, we may relinquish the freedom to breed. Thinks the tragedy of the commons can be solved by allocating rights to enter the commons government regulations or selling off the commons. Olson and hardin are pretty negative about the possibilities of collective action. Social capital- features of social organization, such as networks, norms and trust that facilitate coordination and cooperation for mutual benefit. Putnam"s measures: group memberships to social capital to social trust and back to group.
