Growth of Economic Potential in the Context of the Development of Social Capital

Abstract

The subject of the study. In an open economy, achieving a high level of development of an inclusive society, strong institutions and healthy, educated and socially adapted, constituent people, the nation will flourish, which is the basis of social capital, which through the formation and support of social relations aims to create social good and increase welfare, based on mutual social relations and trust, affects the development of the economy, namely, it promotes the creation of new forms of business financing and reduces transaction costs, improves the investment process of the enterprise, and controls the corruption of government and civil servants. Socio-economic relations and interactions not only of economic entities, but also of individual structures, organizations or individuals create the need to address and use social capital, combining concepts such as trust, values, social ties and norms, as well as to study and analyze their role in economic development. Research methodology. The purpose of the work and research in the article is to analyze previous, already formed theories and existing world practices of the modern vision of this direction. The article explores the formation and rapid development of social capital and its integral components (trust, norms, networks and social structures). The article considers the methodological basis for the formation of social capital: different definitions of this category, structural analysis and disclosure of the interaction of all areas of research, the relationship with the socio-economic phenomena of our time, traced the attempt of a comprehensive view of social communication as one of the tools of social capital in the formation of modern public space. Purpose and conclusions of the study. Social capital has been on everyone's lips for a long time, but the new life and the need to study and disseminate its possibilities, with subsequent use, has recently been widely publicized, gradually developing with its research papers and directions. Social capital affects the conditions, efficiency and productivity of economic activity, which contributes to the well-being and prosperity of society, which in turn increases the standard of living of people. which is the main task of today.