Social Capital 2025: The hidden wealth of nations

This essay, written by Andy Haldane and Professor David Halpern and published by Demos in partnership with Local Trust and 3ni (the national network for neighbourhood improvement), considers the link between social capital and economic growth, making the case for a greater focus on social capital in policy and practice.

Finding that social capital is of profound value to individuals, communities and nations, the essay summarises why it matters, how it has changed and what policymakers can do to strengthen it. It concludes social capital appears to be one of the most important, but neglected, factors in explaining the growth of economies and the health of our societies.

On housing, it argues that removing barriers, both for homeowners and those in social housing, that can inhibit older people moving to more suitable homes or closer to friends and family could give an important boost to social capital, and that increasing the availability of cohousing as an option in the UK could help to both lower the cost of housing and nurture social capital.