THE INTERACTION OF HUMAN SOCIAL CAPITAL AND SUSTAINABLE ECONOMIC DEVELOPMENT IN NIGERIA

Rasak Bamidele

Department of Sociology and Psychology

Fountain University   Osogbo, Osun State

E-mail: delerasak@yahoo.co.uk

ABSTRACT

Understanding the makeup of a community’s human social capital is fundamental to understanding our capacities to not only absorb change, but potentially to also grow and prosper as a result of it.  The elements that comprise both social and human capital intimately interact to provide a ‘package’ of capacity that dictates a community’s ability to adapt to changing circumstances. A community’s human capital is comprised of the depth and diversity of skills existing in a community. To be able to use those skills however, we need social networks to connect us with those who need our skills, or government representatives to lead us through the bureaucracy. As a result, both human and social capitals are dealt with in the process of assessing the social component of sustainability, it has been argued that individually, communities, corporate entities or government bodies alone do not possess the resources needed to promote broad based sustainable development. Complementarities and partnerships forged within and across these groups of differing power are also necessary to achieve long term sustainable development. Therefore, this study will examine the interaction between human social capital and   sustainable economic development Nigeria.

Key words: Social capital, Economic development, Component of sustainability, financial capital, and Human capital