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The concept of capital constitutes one of the richest explanatory frameworks in contemporary sociology and economics. Last four decades
have witnessed transformation of the concept of eapi1tal as a result of which new theories of capital such as human capi1tal, cultural capital, and social
capital have emerged. Among these, social capital is considered to be the
most recent of the newly emerging theories. Social capital theory, sharing
certain common contexts with capital, has maintained its conceptual continuity with capital in its classical as well with modern senses. However,
compared with other forms of capital it is more metaphorical, so carrying less objectivity. In the context of theoretical and empirical literature, the
concept of social capita has, at times, been used in a variety of different senses and functions. Therefore, it seems significant to aim at reaching a
convergence by comparing and classifying definitions, functions, and finally the theoretical approaches as expounded within the respective area as
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regards such a new concept. This paper has undertaken such a task.