Freakonomics Radio Trust Me (Ep. 266 Rebroadcast)
Dec 31, 2020
David Halpern leads the UK's Behavioural Insights Team, focusing on how behavioral science informs policy and social trust. Bob Putnam, a Harvard professor, dives into social capital and its evolution. They discuss the alarming decline of social trust in the U.S. and UK, linking it to increased diversity and social disengagement. The pair highlights how trust affects community wellbeing and economic growth, exploring pathways to rebuild social connections. Anecdotes and research underline the critical need for fostering trust in an increasingly complex society.
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Social Capital's Value
- Social capital, like physical and financial capital, has measurable economic value.
- Higher social trust correlates with increased earnings and better economic growth.
Italian Politics and Social Capital
- Robert Putnam's research on Italian politics revealed that civic networks, not economics or education, determined good governance.
- This led him to coin the term 'social capital', the value derived from social networks.
Bowling Alone Phenomenon
- Robert Putnam observed declining civic participation in the U.S. through falling memberships in various organizations.
- This led to the concept of 'bowling alone', signifying increased social isolation.
