The article "Social Capital: Implications for Development Theory, Research, and Policy" by Michael Woolcock and Deepa Narayan explores the concept of social capital and its significance in economic development. Social capital, defined as the norms and networks that enable collective action, has gained prominence across social science disciplines since the 1990s. The authors identify four main approaches to social capital research: communitarian, networks, institutional, and synergy. The synergy view, which integrates the strengths of the other three perspectives, is found to have the most empirical support and offers comprehensive policy prescriptions. The article provides an overview of the scholarship on social capital, emphasizing its role in economic development and poverty reduction. It highlights the importance of social capital in both individual and community contexts, noting that it can be both a source of strength and a liability. The authors argue that social capital is a double-edged sword, providing valuable services while also imposing costs and risks. The article discusses the implications of social capital for development theory and policy, suggesting that it bridges sociological and economic perspectives. It offers six broad recommendations for incorporating social capital into development policy, including the need for social institutional analysis, investment in organizational capacity, and the promotion of information disclosure and modern communication technologies. The authors emphasize the importance of understanding the complex interplay between social interactions, communities, and institutions in shaping economic performance and addressing poverty.The article "Social Capital: Implications for Development Theory, Research, and Policy" by Michael Woolcock and Deepa Narayan explores the concept of social capital and its significance in economic development. Social capital, defined as the norms and networks that enable collective action, has gained prominence across social science disciplines since the 1990s. The authors identify four main approaches to social capital research: communitarian, networks, institutional, and synergy. The synergy view, which integrates the strengths of the other three perspectives, is found to have the most empirical support and offers comprehensive policy prescriptions. The article provides an overview of the scholarship on social capital, emphasizing its role in economic development and poverty reduction. It highlights the importance of social capital in both individual and community contexts, noting that it can be both a source of strength and a liability. The authors argue that social capital is a double-edged sword, providing valuable services while also imposing costs and risks. The article discusses the implications of social capital for development theory and policy, suggesting that it bridges sociological and economic perspectives. It offers six broad recommendations for incorporating social capital into development policy, including the need for social institutional analysis, investment in organizational capacity, and the promotion of information disclosure and modern communication technologies. The authors emphasize the importance of understanding the complex interplay between social interactions, communities, and institutions in shaping economic performance and addressing poverty.