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Purpose

According to Putnam, civic engagement fosters a cooperative structure and generalized trust. This leads to accumulation of social capital, in the form of inclusive, cooperative networks that are economically productive. The aim of this paper is to evaluate critically this thesis.

Design/methodology/approach

Drawing upon data from rural Denmark, this paper double tests Putnam's somewhat simplistic model of social capital leading to higher levels of economic performance.

Findings

In test one, which is based on statistical data, it is found that social capital measured as the density of voluntary associations does not in any way influence levels of economic performance. Test two, based on qualitative fieldwork, points at the socioeconomic power of social capital, implying many positive and negative outcomes other than the sheer economic.

Research limitations/implications

Data are only from Denmark.

Practical implications

This paper reframes the social capital research agenda, displaying to policy makers that they should not overestimate the blessing of voluntary associations.

Originality/value

This paper contributes to the sociological critique of the one‐sided, positive picture of civic associations.

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