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It's true in the sense that they are the precursors to gentrification, which is significant both culturally and economically. Actually, also fashion and music
by pnut 5y ago
It's true in the sense that they are the precursors to gentrification, which is significant both culturally and economically.
Actually, also fashion and music trends, lots of things. The bohemians just suck at capitalism.
- tolbish 5y ago> The bohemians just suck at capitalism. So it's not true, since the point was about capital.
- jjk166 5y agosocial capital
- tolbish 5y agoIs social capital not a necessary and root component of capital?
- jjk166 5y agoCapital in capitalism refers to the means of production, ie tools, machines, real estate, etc. While it can include some less tangible assets like intellectual property, its still stuff that allows you to more easily produce stuff. Economic capital is used up in the spending of funds and the depreciation of assets. Social capital refers to networks of relationships, sway over the opinions of others, and institutional clout. While it could certainly be used to help acquire the means of production, it isn't itself a means of production. Social capital is not expended when utilized. While there may be cases where you need both, it is common to have one without the other, and social capital by no means a necessary and root component of capital. A person who builds a useful machine in his garage creates economic capital without drawing upon any social network. A socialite rubbing elbows with the right people at a cocktail party builds social capital without drawing upon any economic capital.