In search of happiness: The importance of social capital in the era of social distancing and digitalisation

Despite the great popularity of the concept, the literature between social capital and subjective well-being has suffered from analytical vagueness and conflicting empirical findings. The pandemic of COVID-19 and the subsequent digitalisation of traditional spaces of social participation have deemed the study of social capital more relevant than ever before. Using theory of public goods, this research divides social capital into cognitive and structural dimensions and investigates their relationship with subjective happiness in Europe. The analysis employs suitable indicators for social capital with the use of Special Eurobarometer 62.2. The findings reveal that all investigated forms of social capital correlate significantly with increased levels of self-reported life-satisfaction. Furthermore, the study translates the empirical results into concrete social implications for modern challenges. More specifically, it suggests that measures of social isolation as well as stigmatisation...Show moreDespite the great popularity of the concept, the literature between social capital and subjective well-being has suffered from analytical vagueness and conflicting empirical findings. The pandemic of COVID-19 and the subsequent digitalisation of traditional spaces of social participation have deemed the study of social capital more relevant than ever before. Using theory of public goods, this research divides social capital into cognitive and structural dimensions and investigates their relationship with subjective happiness in Europe. The analysis employs suitable indicators for social capital with the use of Special Eurobarometer 62.2. The findings reveal that all investigated forms of social capital correlate significantly with increased levels of self-reported life-satisfaction. Furthermore, the study translates the empirical results into concrete social implications for modern challenges. More specifically, it suggests that measures of social isolation as well as stigmatisation of certain social groups can reduce the accumulation of social capital at the structural and cognitive level respectively. This might compromise the capacity of communities to engage in mutually beneficial collective action and reduce total well-being. Lastly, a warning is raised towards a potential overemphasis on digital communication, as the properties real-life social interactions have not been found to be transferable in virtual settings.Show less

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In search of happiness: The importance of social capital in the era of social distancing and digitalisation