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Reading: The Increasing Importance of Social Capital on Virtual Social Networking Platforms

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The Increasing Importance of Social Capital on Virtual Social Networking Platforms

Author:

Christian Huhnt

Department of Management, London School of Economics and Political Science, GB
About Christian
MSc Management of Information Systems and Innovation (2013/2014)
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Abstract

Social Capital is a human psychological need that is being reshaped by the digital evolution due to intensive use of social networks. New tools, such as ‘Social buttons’ to “Like” and “Share” web content, have evolved, iltering, ranking and editing data to organise the exchange of Social Capital. It is based on an exchange, where the user gives away Social Capital irst, in order to receive it. The contribution of knowledge or information is not for the quality improvement itself, but for the contributors’ individual gain to generate Social Capital through the attention of others. A socially constructed architectural framework allows this Social Capital to trade like a currency between users’ interaction and content sharing. New algorithms in social networks make users always contribute and interact, believing that they are in a consensus in earning and spending Social Capital. This suggests a biased view on qualitative digital content and a potential threat to organically constructed Social Capital. The dangerous result is the users’ social irrelevance and illusional self-awareness caused by the ambivalent ontology of digital artifacts and vacuous, viral and fast-expiring information being exchanged for Social Capital, not for the purpose of meaningful knowledge.

How to Cite: Huhnt, C., 2014. The Increasing Importance of Social Capital on Virtual Social Networking Platforms. iSCHANNEL, 9(1), pp.5–10.
Published on 01 Sep 2014.
Peer Reviewed

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