Social Capital and Well-Being in Times of Crisis
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This paper attempts to show how the quality of the social fabric of a community or nation affects its capacity to deal with crises and to develop human and natural resources in ways that maintain and sustainably improve subjective well-being. Three types of crisis will be used as examples. These include economic crises; transition and other institutional crises; and conflicts over sustainable resource use. The bulk of the new results in this paper relate to economic crises and institutional transitions, and shows that communities and nations with better social capital and trust respond to crises and transitions more happily and effectively.
KeywordsSubjective well-being Happiness Social capital Economic crises Transition Sustainable development Social context
This research is part of the Canadian Institute for Advanced Research (CIFAR) Program in Social Interactions, Identity and Well-Being. Wang is supported by the research fund offered by Korea Development Institute (KDI) School of Public Policy and Management for "Inequality and Subjective Well-Being" project. Authors are very grateful to the anonymous referees for their helpful comments.
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