The verdict on that question is not yet in and the evidence so far is equivocal. There isn't a single global metronome ticking off simultaneous rhythms of social capital change everywhere. On the other hand, some evidence suggests that Europe may be about to follow the American pattern with a lag of a few decades. Europe may have a social capital 'cold', but not yet the full-blown American pneumonia. In virtually all industrialised nations, political parties, unions and churches have experienced declining participation over the last decade or two, roughly 20 years after the comparable American slumps began.
Electoral turnout is down in almost all established democracies.
Over the last generation, when increasing levels of education should have prompted large increases in voting, turnout in the developed nations has slumped by up to 20 per cent. Membership of political parties has declined by almost two-thirds in the last few decades. With the exception of Scandinavia, these same countries have experienced drops of more than one-third in union membership in the last two decades. Across Europe, church attendance has been nearly halved since 1970. And in the UK, these declines in social participation have been accompanied by a decline in trust in other people, perhaps the most sensitive indicator of social capital.