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This volume provides a collection of critical new perspectives on social capital theory by examining how social values, power relationships, and social identity interact with social capital. This book seeks to extend this theory into what have been largely under-investigated domains, and, at the same time, address long-standing, classic questions in the literature concerning the forms, determinants, and consequences of social capital.

Social capital can be understood in terms of social norms and networks. It manifests itself in patterns of trust, reciprocity, and cooperation. The authors argue that the degree to which and the different ways in which people exhibit these distinctively social behaviours depend on how norms and networks elicit their values, reflect power relationships, and draw on their social identities. This volume accordingly adopts a variety of different concepts and measures that incorporate the variety of contextually-specific factors that operate on social capital formation. In addition, it adopts an interdisciplinary outlook that combines a wide range of social science disciplines and methods of social research. Our objective is to challenge standard rationality theory explanations of norms and networks which overlook the role of values, power, and identity.

This volume appeals to researchers and students in multiple social sciences, including economics, sociology, political science, social psychology, history, public policy, and international relations, that employ social capital concepts and methods in their research. It can be seen as a set of new extensions of social capital theory in connection with its themes of social values, power, and identity that would advance the scholarly literature on social norms and networks and their impact on social change and public welfare.

The form of ‘reflexivity’ – defined by the dictionary as that which is ‘directed back upon itself’ – that is most relevant to economic methodology is that where observation of the economy leads to ideas that change behavior, which in turn changes (is directed back upon) the economy itself. As George Soros explains: "if investors believe that markets are efficient then that belief will change the way they invest, and that in turn will change the nature of the markets they are observing ... That is the principle of reflexivity".

Although various versions of reflexivity have long been discussed, in recent years George Soros has been particularly effective in bringing ideas about reflexivity to the attention of the economic and financial communities. In a series of writings he has systematically argued that reflexivity is not only an important aspect of economic life, it is an aspect that is neglected in most mainstream theorizing; and in addition, that the neglect of reflexivity has been responsible for the failure of economists to predict, explain, or offer a solution for events such as the recent financial crisis.

Soros’ ideas about reflexivity have important methodological significance, and his chapter in this book summarizes and clarifies his arguments. His contribution is joined by those of thirteen scholars from a wide range of relevant fields, who provide a commentary on the idea of reflexivity in economics. This book was originally published as a special issue of The Journal of Economic Methodology.

THE FRUITS OF HIS LABOR: The true story of Professor Edmond Jefferson Oliver, Principal of Fairfield Industrial High School, its staff, its students, community, state of Alabama, the Nation and the World!!! By John B. Davis, Class of 1951 Fruit results from planted seeds, when seeds grow, they bear fruit, Galations 5:22, 23 We were taught that the fruit that you have to reach for is the sweetest!! The fruits of his labor are many: the world is blessed with Fairfield Industrial High School (F.I.H.S.) graduates eschewing their accomplishments through serving others!! As one of our graduates, Lois Macon, eloquently proclaimed, There was a place called FAIRFIELD INDUSTRIAL HIGH SCHOOL and a man named EDMOND JEFFERSON OLIVER and his vision was to educate the coloreds living in a colored community, children of colored parents who worked at colored jobs to send their colored children to a colored school. The visionary, Professor Oliver with head bloody, but unbowed still forged ahead. Each drop of blood in the sand, like living water produced living fruit, sprouting all around is evidence of his passion. He calls to the visionaries and awaits that army to understand that each child of mother F.I.H.S. also has a purpose; that each is, and that is will be is when he or she is! We, the graduates of Fairfield Industrial High School, are the fruits of his labor and some of our stories are unfolded in this book. Like a plant, Professor Olivers roots are showing. He grew good people in our small town with honesty, sincerity and dignity! Drop this book on the floor and where ever it opens, it will be excellent reading! This true story is dedicated to our BLACK Community (I choose to capitalize the word (BLACK), because of all the hell we caught and are still catching in this country)!

This volume provides a collection of critical new perspectives on social capital theory by examining how social values, power relationships, and social identity interact with social capital. This book seeks to extend this theory into what have been largely under-investigated domains, and, at the same time, address long-standing, classic questions in the literature concerning the forms, determinants, and consequences of social capital.

Social capital can be understood in terms of social norms and networks. It manifests itself in patterns of trust, reciprocity, and cooperation. The authors argue that the degree to which and the different ways in which people exhibit these distinctively social behaviours depend on how norms and networks elicit their values, reflect power relationships, and draw on their social identities. This volume accordingly adopts a variety of different concepts and measures that incorporate the variety of contextually-specific factors that operate on social capital formation. In addition, it adopts an interdisciplinary outlook that combines a wide range of social science disciplines and methods of social research. Our objective is to challenge standard rationality theory explanations of norms and networks which overlook the role of values, power, and identity.

This volume appeals to researchers and students in multiple social sciences, including economics, sociology, political science, social psychology, history, public policy, and international relations, that employ social capital concepts and methods in their research. It can be seen as a set of new extensions of social capital theory in connection with its themes of social values, power, and identity that would advance the scholarly literature on social norms and networks and their impact on social change and public welfare.

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