Social capital
In "Social Capital, Civil Society, and Development", political economist Francis Fukuyama defines social capital as generally understood rules that enable people to cooperate such as the norm of reciprocity or religious doctrine like Christianity. Social capital is formed by repeated interactions over time and, he argues, is critical for development and difficult to generate through public policy. The importance of social capital for economic development is that these norms of behavior reduce transaction cost of exchange such as legal contracts and government regulations. Fukuyama suggests that while social capital is beneficial for development, it also imposes cost on non-group members with unintended consequences for general welfare.