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European economy grows 2%, ending double-dip recession - Business News

European economy grows 2%, ending double-dip recession - Business News
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European economy emerges from double-dip recession in 2nd quarter

European economy emerges from double-dip recession in 2nd quarter
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European economy grows 2%, ending double-dip recession

European economy grows 2%, ending double-dip recession
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European economy grows 2%, ending double-dip recession

European economy grows 2%, ending double-dip recession
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Social capital: The overlooked variable to economic growth

Apr 28, 2021
MILAN, Italy – The COVID-19 pandemic has damaged the stock of physical and human capital. Firms have postponed or canceled investment projects, and laid-off or furloughed workers’ skills have deteriorated. The crisis, however, has boosted the often-overlooked variable of social capital, elevating its role as a key source of economic growth.
Popularized in the 1990s by Harvard University political scientist Robert Putnam, social capital refers to “the features of social organizations, such as networks, norms, and trust that facilitate action and cooperation for mutual benefit.” A somewhat nebulous concept, it comprises the shared values, behavioral conventions, and sources of mutual trust and common identity that allow a society to function. The more social capital a group has, the greater its willingness and ability to act collectively in pursuit of valuable objectives. ....

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