A Notable Relationship between Social Economy and Democracy on Corona Days

Abstract

Although the concept of ‘social capital’ is not a new concept, its rise coincided with the COVID-19 pandemic. This concept of sociology, left in a controversial and secondary position, was reborn both in the social, political and economic fields and in the scientific world, with the increase of the COVID-19 outbreak cases. Social capital is a form of socialisation and a way of performing social relationships. The COVID-19 outbreak led to the understanding that physical capital and human capital would not be sufficient to sustain social life, and, therefore, social capital started to rise. The expected private earning from social capital is not individual profit, but collective welfare and mutual benefit. In short, social capital is the capital spent on society and is for common good. On the other hand, social capital has a volume in proportion to the density of the capitals in the society. Social capital, with its intensity, has attracted the attention of different disciplines on Corona days and has exceeded the limits of sociology. Another issue to be emphasised in this study is the relationship between social capital and democracy. In societies where tutelary democracy is dominant, civil society cannot become functional enough. In this difficult environment, social capital is shaped as paternal (tutelary) and a healthy social network cannot be functionalised in society. On the one hand, the horrors of the pandemic are experienced, and, on the other hand, a social capital model that is ineffective in healing social wounds emerges.

Citation

Yerdelen, B.K. (2021), "A Notable Relationship between Social Economy and Democracy on Corona Days", Grima, S., Sirkeci, O. and Elbeyoğlu, K. (Ed.) A New Social Street Economy: An Effect of The COVID-19 Pandemic (Contemporary Studies in Economic and Financial Analysis, Vol. 107), Emerald Publishing Limited, Leeds, pp. 45-64. https://doi.org/10.1108/S1569-375920210000107010