The concept of social capital, defined as norms and networks that enable collective action, has gained prominence in social sciences since the 1990s. The authors explore four approaches to social capital research in economic development: communitarian, networks, institutional, and synergy. The synergy view, emphasizing multiple levels and dimensions of social capital and its dual outcomes, has the strongest empirical support and offers the most coherent policy prescriptions. Social capital bridges divides among scholars, practitioners, and policymakers. Social capital includes norms and networks that enable collective action. It has both benefits and costs, such as the potential for social ties to be a liability. The synergy view recognizes that social capital can be both a blessing and a blight, and that different combinations of bonding and bridging social capital influence outcomes. The communitarian view sees social capital as inherently good, while the networks view highlights its dual nature, with bonding and bridging social capital having different roles. The institutional view argues that social capital depends on the quality of formal institutions. The synergy view integrates these perspectives, emphasizing the importance of state-society relations and the need for complementary institutions. The synergy view suggests that development outcomes depend on the interaction between state and society, with the state playing a crucial role in facilitating positive outcomes. It highlights the need for policies that address both the strengths and weaknesses of social capital, ensuring that it complements formal institutions. The synergy view also emphasizes the importance of complementarity between government and civil society, and the need for institutions that support cooperation, trust, and institutional efficiency. The authors argue that social capital is a key factor in development, with implications for theory, research, and policy. They suggest that social capital should be measured through various indicators, including membership in associations, norms and values that facilitate exchanges, and trust. The synergy view provides a framework for understanding the complex interactions between social capital and development, emphasizing the need for policies that address both the strengths and weaknesses of social capital. The authors conclude that social capital is a vital resource for development, and that policies should aim to enhance its positive aspects while mitigating its negative ones.The concept of social capital, defined as norms and networks that enable collective action, has gained prominence in social sciences since the 1990s. The authors explore four approaches to social capital research in economic development: communitarian, networks, institutional, and synergy. The synergy view, emphasizing multiple levels and dimensions of social capital and its dual outcomes, has the strongest empirical support and offers the most coherent policy prescriptions. Social capital bridges divides among scholars, practitioners, and policymakers. Social capital includes norms and networks that enable collective action. It has both benefits and costs, such as the potential for social ties to be a liability. The synergy view recognizes that social capital can be both a blessing and a blight, and that different combinations of bonding and bridging social capital influence outcomes. The communitarian view sees social capital as inherently good, while the networks view highlights its dual nature, with bonding and bridging social capital having different roles. The institutional view argues that social capital depends on the quality of formal institutions. The synergy view integrates these perspectives, emphasizing the importance of state-society relations and the need for complementary institutions. The synergy view suggests that development outcomes depend on the interaction between state and society, with the state playing a crucial role in facilitating positive outcomes. It highlights the need for policies that address both the strengths and weaknesses of social capital, ensuring that it complements formal institutions. The synergy view also emphasizes the importance of complementarity between government and civil society, and the need for institutions that support cooperation, trust, and institutional efficiency. The authors argue that social capital is a key factor in development, with implications for theory, research, and policy. They suggest that social capital should be measured through various indicators, including membership in associations, norms and values that facilitate exchanges, and trust. The synergy view provides a framework for understanding the complex interactions between social capital and development, emphasizing the need for policies that address both the strengths and weaknesses of social capital. The authors conclude that social capital is a vital resource for development, and that policies should aim to enhance its positive aspects while mitigating its negative ones.