Question

List 3 situations reflecting how the need for social capital has declined in this information society. Briefly explain.

Answer 1

The need for social capital in order to succeed and survive in society has declined in today's time compared to earlier tmes. This may be illustrated by the following points:

1) Earlier the only source of information on educational opportunities and jobs was through some person or organisation within the community spreading information on it. In today's time one can easily get access to such information in any part of the world.

2) Society is increasingly becoming individualistic due to technological advance. The system of a close knit family and community is breaking down. So, people do not rely on others for access to some basic goods and services since they are easily available online.

3) Earlier companies and corporations used to hire on the basis of the recommendation of reliable employees, friends, and relatives. Some jobs could be rationed this way to particular race or sects. In today's time, it is easy to get information on potential employees through better sources. This has also weakened the reliance on social capital.