Has globalization robbed us of our social capital?

Social capital is the value that comes from relationships & social networks. According to Social Capital Theory, social relationships are resources. They enable societies to function effectively. Globalization created a strain on relationships & one's sense of belonging.

Good & old relationships help in building trust among individuals. Sharing each other’s difficulties reduces stress, & togetherness helps retain culture & traditional norms. Social networks give us civic involvement, financial aid, friendships, spiritual sustenance & culture.

At present, it is easy to go all over the world for education, jobs, business, or travel. When people move out of their home ground, they leave behind all the resources they could depend on. They leave behind their land’s skills, knowledge, expertise, and culture.

Intercontinental migration has led to reduced social support, close relationships, trust, & shared values/norms. Diversity has led to a lower sense of shared identity & understanding. Technology enables us to communicate, but the distance does have an impact on relationships.

The OECD (Organization for Economic Co-operation and Development) says the following about social capital: “We can think of social capital as the links, shared values, and understandings in society that enable individuals and groups to trust each other and so work together.”

According to several studies, higher levels of social capital are linked to greater

educational achievement, better health, improved employment outcomes, and

lower crime rates. People with social capital are more likely to be “housed, healthy, hired and happy.”

A reason for increased break-ups & marital breakdowns is that many young people travel to different countries. They don’t settle down in their hometown with their high-school /university love. Change in locations has led to having multiple relationships until you settle down.

Fights between insiders and outsiders due to lack of trust and loss of jobs to immigrants have always been political issues in countries like the USA and India. Migrants experience language barriers, lack of access to medical services, and closeness of familial bonds.

Solution to the loss of social capital is to invest in building social capital. It involves cultural assimilation, mutual respect, & acceptance of diverse cultures. The investment of time & energy in social capital is long term; expecting quick results will be dissatisfactory.

Bottom line:

Humans are social beings & need social networks to thrive & grow. Connections give emotional support & encouragement in difficult times. They give happiness & a sense of belonging which are necessary for a meaningful life. Globalization

threatens all these things.