How to reduce social capital to zero?
With the collapse of the Chinese economy and the resultant economic slowdown, the government and private corporations have been grappling with how to make social capital work again.
Social capital is defined as the value that people bring to society, and how well they interact with others.
This value can be measured in terms of things like trust, and is one of the things that the Australian Bureau of Statistics (ABS) defines as the ability of people to contribute to society.
Social capital can be a great asset to governments and private businesses, but it can also be a dangerous asset, as the government is now forced to use social capital controls to keep its citizens safe.
As part of a $1.6 billion program announced in November, the Commonwealth is now restricting the number of people that can be involved in the system, as well as making changes to how the government monitors social capital.
In the face of the government’s new restrictions, there are many people looking to change how they manage social capital, and one of those is Mr Lee Hwang, the founder of the social media platform, The Social Capital Foundation.
Mr Lee said the new restrictions were a huge step backwards, as it will now be harder for people to use their social capital effectively.
“In the past, if a person wanted to use a social capital fund, they would have to apply for a license to use the social capital,” he said.
“The government has said they will restrict access to social capital as it relates to people who have criminal records.”
Social Capital Foundation has been providing social capital monitoring for the Commonwealth since 2014, and has been working with the government to make sure the government was following the new regulations.
“There’s a lot of confusion around what it means to be a social investor, what it does mean, what the government should be doing to monitor social capital and how to do that,” Mr Lee said.
He said the restrictions on the number and type of people who can use the fund had been a major setback.
“We don’t really know what’s going to happen when the social investments come back in,” he told The National.
It is a system that’s very hard to manage.
The government can say it wants to improve social capital management, but in reality it’s more of a burden to governments, and to their social investors.
“You don’t have any social capital that’s not regulated, you don’t get any funding from the government, you can’t get anything from the Commonwealth,” he added.
“If you get that, you just start losing money and that’s going too far.”
So, to me, it’s not a good outcome.
“Mr Lee added that there were other ways to monitor the value of social capital than social capital funds, and they were also likely to be much less effective.”
I think social capital is a very powerful tool, but we should be able to do it without the restrictions,” he explained.
Mr Lee, who is also an advisor to the Australian Chamber of Commerce, said the government needed to be more open to using social capital for other purposes.”
In a world where we have a rapidly changing economy and society, we need to be open to new ways to use this new technology to improve our economies and our societies,” he concluded.