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Thesocialworldisaccumulatedhistory,andifitisnottobereducedtoadiscontinuousseriesofinstantaneousmechanicalequilibriabetweenagentswhoaretreatedasinter-changeableparticles,onemustreintroduceintoitthenotionofcapitalandwithit,accu-mulationandallitseffects.Capitalisaccumu-latedlabor(initsmaterializedformorits'incorporated,'embodiedform)which,whenappropriatedonaprivate,i.e.,exclusive,basisbyagentsorgroupsofagents,enablesthemtoappropriatesocialenergyintheformofreifiedorlivinglabor.1tisa
visinsita,
aforceinscribedinobjectiveorsubjectivestructures,butitisalsoa
lexinsita,
theprincipleunderlyingtheimmanentregularitiesofthesocialworld.Itiswhatmakesthegamesofsociety-notleast,theeconomicgame-somethingotherthansimplegamesofchanceofferingateverymomentthepossibilityofamiracle.~oulette,whichholdsouttheopportunityofwinningalotofmoneyinashortspaceoftime,andthereforeofchangingone'ssocialstatusquasi-instantaneously,andinwhichthewin-ningofthepreviousspinofthewheelcanbestakedandlostateverynewspin,givesafairlyaccurateimageofthisimaginaryuniverseofperfectcompetitionorperfectequalityofopportunity,aworldwithoutinertia,withoutaccumulation,withoutheredityoracquiredproperties,inwhicheverymomentisper-fectlyindependentofthepreviousone,everysoldierhasamarshal'sbatoninhisknapsack,andeveryprizecanbeattained,instanta-neously,byeveryone,sothatateachmomentanyonecanbecomeanything.Capital,which,initsobjectifiedorembodiedforms,takestimetoaccumulateandwhich,asapotential
2
TheFormsofCapital
PierreBourdieu
,..
capacitytoproduceprofitsandtoreproduceitselqnidenticalorexpandedform,containsatendencytopersistinitsbeing,isaforceinscribedintheobjectivityofthingssothateverythingisnotequally'possibleorimpossi-ble.1Andthestructureofthedistributionofthedifferenttypesandsubtypesofcapitalatagivenmomentintimerepresentstheimma-nentstructureofthesocialworld,i.e.,thesetofconstraints,inscribedintheveryrealityofthatworld,whichgovernitsfunctioninginadurableway,determiningthechancesofsuc-cessforpractices.Itisinfactimpossibletoaccountforthestructureandfunctioningofthesocialworldunlessonereintroducescapitalinallitsformsandnotsolelyintheoneformrecognizedbyeconomictheory.Economictheoryhasallowedtobefoisteduponitadefinitionoftheeconomyofpracticeswhichisthehistoricalinventionofcapitalism;andbyreducingtheuniverseofexchangestomercantileexchange,whichisobjectivelyandsubjectivelyorientedtowardthemaximizationofprofit,i.e.,(eco-nomically)
self-interested,
ithasimplicitlydefinedtheotherformsofexchangeasnoneconomic,andtherefore
disinterested.
Inparticular,itdefinesasdisinterestedthoseformsofexchangewhichensurethe
transub-stantiation
wherebythemostmaterialtypesofcapital-thosewhichareeconomicintherestrictedsense-canpresentthemselvesintheimmaterialformofculturalcapitalorsocialcapitalandviceversa.Interest,intherestrictedsenseitisgivenineconomictheory,cannotbeproducedwithoutproducingitsnegativecounterpart,disinterestedness.Theclassofpracticeswhoseexplicitpurposeisto
FromJ.E.Richardsun(cd.),
/!tmt//lllol:ofTheoryofResearchforIheSociolol{VofF-tlt/t'IIl;O/l
«
"','('nwunll'rcsN,IIJKh);2415K.TranslnlcdhyRichardNicc.Rcprintl.dhy1"""IIiMMinll.
lIIaximizemonetaryprofitcannotbedefined
(Ill
Rueh
withoutproducingthepurposeless
I'nalityofculturalorartisticpracticesandIheirproducts;theworldofbourgeoisman,withhisdouble-entryaccounting,cannotbeInventedwithoutproducingthepure,perfectuniverseoftheartistandtheintellectualandIhcgratuitousactivitiesofart-for-art'ssakeftndpuretheory.Inotherwords,theconstitu-tionofascienceofmercantilerelationshipswhich,inasmuchasittakesforgrantedthe
very
foundationsoftheorderitclaimstoana-Iyzt..'-privateproperty,profit,wagelabor,rlc.-isnotevenascienceofthefieldofeco-nomicproduction,haspreventedtheconsti-lutionofageneralscienceoftheeconomyofpractices,whichwouldtreatmercantile"~changeasaparticularcaseofexchangeinallhHforms.ItisremarkablethatthepracticesandassetsIhussalvagedfromthe'icywaterofegotisticalnlleulation'(andfromscience)arethevirtualmonopolyofthedominantclass-asifl'l'Onomismhadbeenabletoreduceevery-'hingtoeconomicsonlybecausethereductionIInwhichthatdisciplineisbasedprotectsfrom.~crilegiousreductioneverythingwhichnrcdstobeprotected.Ifeconomicsdealsonly
with
practicesthathavenarrowlyeconomicIntcrestastheirprincipleandonlywithgoods
Ihat
aredirectlyandimmediatelyconvertibleIlItomoney(whichmakesthemquantifiable),Ihcntheuniverseofbourgeoisproductionand"~changebecomesanexceptionandcansee
IIHclf
andpresentitselfasarealmofdisinter-
1'8tedness.Aseveryoneknows,priceless
,
hingshavetheirprice,andtheextremediffi-I'ultyofconvertingcertainpracticesandcer-IIllnobjectsintomoneyisonlyduetothefact
Ihat
thisconversionisrefusedinthevery
IlIIentionthatproducesthem,whichisnoth-IlIgotherthanthedenial
(Verneinung)
ofthepeonomy.AgeneralscienceoftheeconomyofIlrRctices,capableofreappropriatingthetotalityofthepracticeswhich,althoughubjectivelyeconomic,arenotandcannotbeNodallyrecognizedaseconomic,andwhichranbeperformedonlyatthecostofawholeInborofdissimulation'or,moreprecisely,
fllphemization,
mustendeavortograspcapitalIlI1dprofitinalltheirformsandtoestablishtheInwswherebythedifferenttypesofcapital(orpower,whichamountstothesamething)changeintooneanother.l"I)epcndingonthcfieldinwhiehitrune.
TheForms
ofCapital
47tions,andatthecostofthemoreorlessexpen-sivetransformationswhicharetheprecondi-tionforitsefficacyinthefieldinquestion,capitalcanpresentitselfinthreefundamentalguises:as
economiccapital,
whichisimmedi-atelyanddirectlyconvertibleintomoneyandmaybeinstitutionalizedintheformofprop-ertyrights;as
culturalcapital,
whichiscon-vertible,oncertainconditions,intoeconomiccapitalandmaybeinstitutionalizedintheformofeducationalqualifications;andas
socialcapital,
madeupofsocialobligations('connections'),whichisconvertible,incer-tainconditions,intoeconomiccapitalandmaybeinstitutionalizedintheformofatitleofnobility.3
CulturalCapital
Culturalcapitalcanexistinthreeforms:inthe
embodied
tate,i.e.,intheformoflong-lasting
dispositionsofthemindandbody;inthe
objectified
state,intheformofculturalgoods(pictures,books,dictionaries,instruments,machines,etc.),whicharethetraceorrealiza-tionoftheoriesorcritiquesofthesetheories,problematics,etc.;andinthe
institutionalized
state,aformofobjectificationwhichmustbesetapartbecause,aswillbeseeninthecaseofeducationalqualifications,itconfersentirelyoriginalpropertiesontheculturalcapitalwhichitispresumedtoguarantee.Thereadershouldnotbemisledbythesomewhatperemptoryairwhichtheeffortattaxiomizationmaygivetomyargument.4Thenotionofculturalcapitalinitiallypresenteditselftome,inthecourseofresearch,asathe-oreticalhypothesiswhichmadeitpossibletoexplaintheunequalscholasticachievementofchildrenoriginatingfromthedifferentsocialclassesbyrelatingacademicsuccess,Le.,thespecificprofitswhichchildrenfromthedif-ferentclassesandclassfractionscanobtainintheacademicmarket,tothedistributionofculturalcapitalbetweentheclassesandclassfractions.Thisstartingpointimpliesabreakwiththepresuppositionsinherentbothinthecommonsenseview,whichseesacademicsuc-cessorfailureasaneffectofnaturalaptitudes,andinhumancapitaltheories.Economistsmightseemtodeservecreditforexplicitlyraisingthequestionoftherelationshiphl:twcl:ntheratesofprofitoneducational
 
8
TheFonnsofCapital
investmentandoneconomicinvestment(anditsevolution).Buttheirmeasurementoftheyieldfromscholasticinvestmenttakesaccountonlyof
monetary
investmentsandprofits,orthosedirectlyconvertibleintomoney,suchasthecostsofschoolingandthecashequivalentoftimedevotedtostudy;theyareunabletoexplainthedifferentproportionsoftheirresourceswhichdifferentagentsordifferentsocialclassesallocatetoeconomicinvestmentandculturalinvestmentbecausetheyfailtotakesystematicaccountofthestructureofthedifferentialchancesofprofitwhichthevariousmarketsoffertheseagentsorclassesasafunctionofthevolumeandthecompositionoftheirassets(seeesp.Becker
19Mb).
Furthermore,becausetheyneglecttorelatescholasticinvestmentstrategiestothewholesetofeducationalstrategiesandtothesystemofreproductionstrategies,theyinevitably,byanecessaryparadox,letslipthebesthiddenandsociallymostdeterminanteducationalinvestment,namely,thedomestictransmissionofculturalcapital.Theirstudiesoftherelationshipbetweenacademicabilityandacademicinvestmentshowthattheyareunawarethatabilityortalentisitselftheprod-uctofaninvestmentoftimeandculturalcap-
ital(Becker
1964a:
63-6).Notsurprisingly,
whenendeavoringtoevaluatetheprofitsofscholasticinvestment,theycanonlyconsidertheprofitabmtyofeducationalexpenditureforsocietyasawhole,the'socialrateofreturn,'orthe'socialgainofeducationasmea-suredbyitseffectsonnationalproductivity'
(Becker
19Mb:
121,155),Thistypicallyfunc-
tionalistdefinitionofthefunctionsofeduca-tionignoresthecontributionwhichtheeducationalsystemmakestothereproductionofthesocialstructurebysanctioningthehereditarytransmissionofculturalcapital.Fromtheverybeginning,adefinitionofhumancapital,despiteitshumanisticconno-tations,doesnotmovebeyondeconomismandignores,
interalia,
thefactthatthe
~
fromeducationalaction
dependsontheculturalcapitalpreviouslyinvestedbythefamily.Moreover,theeco-nomicandsocialyieldoftheeducationalqual-ificationdep'endsonthesocialcapital,againinherited,whichcanbeusedtobackitup.
THEEMBODIEDSTATE
Mostofthepropertiesofculturalcapitalcanbededucedfromthefactthat,initsfunda-
mentalstate,itislinkedtothebodyandpre-supposesembodiment.Theaccumulationofculturalcapitalintheembodiedstate,i.e.,intheformofwhatiscalledculture,cultivation,
Bi/dung,
presupposesaprocessofembodi-ment,incorporation,which,insofarasitimpliesalaborofinculcationandassimilation,coststime,timewhichmustbeinvestedper-sonallybytheinvestor.Liketheacquisitionofamuscularphysiqueorasuntan,itcannotbedoneatsecondhand(sothatalleffectsofdel-egationareruledout).Theworkofacquisitionisworkononeself(self-improvement),aneffortthatpresup-
posesapersonalcost
(onpaie
desa
personne,
as
wesayinFrench),aninvestment,abovealloftime,butalsoofthatsociallyconstitutedformoflibido,
libidosciendi,
withalltheprivation,renunciation,andsacrificethatitmayentail.Itfollowsthattheleastinexactofallthemea-surementsofculturalcapitalarethosewhichtakeastheirstandardthelengthofacquisi-tion-solong,ofcourse,asthisisnotreducedtolengthofschoolingandallowanceismadeforearlydomesticeducationbygivingitapos-itivevalue(againintime,aheadstart)oranegativevalue(wastedtime,anddoublysobecausemoretimemustbespentcorrectingitseffects),accordingtoitsdistancefromthedemandsofthescholasticmarke,t.sThisembodiedcapital,externalwealthconvertedintoanintegralpartoftheperson,intoahabitus,cannotbetransmittedinstanta-neously(unlikemoney,propertyrights,oreventitlesofnobility)bygiftorbequest,pur-chaseorexchange.Itfollowsthattheuseorexploitationofculturalcapitalpresents,par-ticularproblemsfortheholdersofeconomicorpoliticalcapital,whethertheybeprivatepatronsor,attheotherextreme,entrepre-neursemployingexecutivesendowedwithaspecificculturalcompetence(nottomentionthenewstatepatrons).Howcanthiscapital,socloselylinkedtotheperson,beboughtwithoutbuyingthepersonandsolosingtheveryeffectoflegitimationwhichpresupposesthedissimulationofdependence?Howcanthiscapitalbeconcentrated-assomeunder-takingsdemand-withoutconcentratingthepossessorsofthecapital,whichcanhaveallsortsofunwantedconsequences?Culturalcapitalcanbeacquired,toavary-ingextent,dependingontheperiod,thesoci-ety,andthesocialclass,intheabsenceofanydeliberateinculcation,andthereforequitetlllI'OI1Ndously,Italwaysremainsmarkedby11.1'llI'liuslconditionsofacquisitionwhich,Ihl'Olll(hthemoreorlessvisiblemarksthey11'11I'(Muchasthepronunciationscharacteris-Ih0111
clnss
orregion),helptodetermineits
.lllIrhwtivevalue,ItcannotbeaccumulatedIlI'yondtheappropriatingcapacitiesofanIIlIlIvlllul1lagent;itdeclinesanddieswithits111111'1'1'withhisbiologicalcapacity,hismem-1111','I'C.).Becauseitisthuslinkedinnumer-
'11I11
wnys
tothepersoninhisbiological
"lIl(lIlnrityandissubjecttoahereditarytrans-
111INNlon
whichisalwaysheavilydisguised,orI'ITnInvisible,itdefiestheold,deep-rooted,ltllll1wriontheGreekjuristsmadebetweenIlIhlll'lIl;dproperties
(tapatroa)
andacquired1"IIPI.rties
(epikteta),
i.e.,thosewhichanindi-Ihlllnlnddstohisheritage.Itthusmanagesto'1IlI1hil1eheprestigeofinnatepropertywithIhll1tul'itsofacquisition.BecausethesocialI,ulllhionsofitstransmissionandacquisition.,II1wredisguisedthanthoseofeconomic
1111'hnl,
tispredisposedtofunctionassym-
1IIIIh'npital,i.e.,tobeunrecognizedascapital.lIlItI'l'cognizedaslegitimatecompetence,as.11IhelI'ityexertinganeffectof(mis)recogni-111111,.g"inthematrimonialmarketandinall,I...II1lu'ketsinwhicheconomiccapitalisnot
IlIlIy
I'eeognized,whetherinmattersofcul-
11111'withthegreatartcollectionsorgreatcul-
IIlI'n
i
foundations,orinsocialwelfare,withthe
It'lIlIomyofgenerosityandthegift.Further-111111'11,hespecificallysymboliclogicofdis-IIII"llonadditionallysecuresmaterialandq\llIho!icprofitsforthepossessorsofalargeIlIhuntlcapital:anygivenculturalcompe-11'IWl'e.g"beingabletoreadinaworldofillit-
1'1'1111111)
derivesascarcityvaluefromits
I"IMII
ioninthedistributionofculturalcapital
Ill1dyiddsprofitsofdistinctionforitsowner.III01herwords,theshareinprofitswhich1II'IIreeulturalcapitalsecuresinclass-dividedlllU~lctiessbased,inthelastanalysis,onthe(,wtIhatallagentsdonothavetheeconomicI1l1dulturalmeansforprolongingtheirchil-Ih'~I1'educationbeyondtheminimumneces-IIlIrytorthereproductionofthelabor-power
1"1U1I
valorizedatagivenmoment.6'(,husthecapital,inthesenseofthemeansornppropriatingtheproductofaccumulatedIlIhlll'intheobjectifiedstatewhichisheldbya~lvel1agent,dependsforitsrealefficacyontherOI'l1!fthedistributionofthemeansofappro-printingtheaccumulatedandohjeclivdyIIvnilnhleI'CSCIIIees;andtherclaliCII,,;!!ip
01
TheFormsofCapital
(~
appropriationbetweenanagentandtheresourcesobjectivelyavailable,andhencetheprofitstheyproduce,ismediatedbytherela-tionshipof(objectiveand/orsubjective)com-petitionbetweenhimselfandtheotherpossessorsofcapitalcompetingforthesamegoods,inwhichscarcity-andthroughitsocialvalue-isgenerated.Thestructureofthefield,i.e.,theunequaldistributionofcap-ital,isthesourceofthespecificeffectsofcap-ital,i.e.,theappropriationofprofitsandthepowertoimposethelawsoffunctioningofthefieldmostfavourabletocapitalanditsrepro-duction.Butthemostpowerfulprincipleofthesymbolicefficacyofculturalcapitalnodoubtliesinthelogicofitstransmission.Ontheonehand,theprocessofappropriatingobjectifiedculturalcapitalandthetimenecessaryforittotakeplacemainlydependontheculturalcap-italembodiedinthewholefamily-through(amongotherthings)thegeneralizedArroweffectandallformsofimplicittransmission.'Ontheotherhand,theinitialaccumulationofculturalcapital,thepreconditionforthefast,easyaccumulationofeverykindofusefulcul-turalcapital,startsattheoutset,withoutdelay,withoutwastedtime,onlyfortheoff-springoffamiliesendowedwithstrongcul-turalcapital;inthiscase,theaccumulationperiodcoversthewholeperiodofsocializa-tion.Itfollowsthatthetransmissionofcul-turalcapitalisnodoubtthebesthiddenformofhereditarytransmissionofcapital,anditthereforereceivesproportionatelygreate
)
eightinthesystemofreproductionstrategies,asthedirect,visibleformsoftransmis-siontendtobemorestronglycensoredandcontrolled.Itcanimmediatelybeseenthatthelinkbetweeneconomicandculturalcapitalisestablishedthroughthemediationofthetimeneededforacquisition.Differencesinthecul-turalcapitalpossessedbythefamilyimplydif-ferencesfirstintheageatwhichtheworkoftransmissionandaccumulationbegins-thelimitingcasebeingfulluseofthetimebiolog-icallyavailable,withthemaximumfreetimebeingharnessedtomaximumculturalcapi-tal-andtheninthecapacity,thusdefined,tosatisfythespecificallyculturaldemandsofaprolongedprocessofacquisition.Further-more,andincorrelationwiththis,thelengthoftimeforwhichagivenindividualcanpro-101110(isacquisitionprocessdependsonthe
 
(50:
TheFormsofCap
ital
\.-/'lengthoftimeforwhichhisfamilycanprovidehimwiththefreetime,i.e.,timefreefromeconomicnecessity;whichisthepreconditionfortheinitialaccumulation(timewhichcanbeevaluatedasahandicaptobemadeup).
THEOBJECTIFIEDSTATE
Culturalcapital,intheobjectifiedstate,hasanumberofpropertieswhicharedefinedonlyintherelationshipwithculturalcapitalinitsembodiedform,Theculturalcapitalobjecti-fiedinmaterialobjectsandmedia,suchaswritings,paintings,monuments,instru-ments,etc.,istransmissibleinitsmateriality.Acollectionofpaintings,forexample,canbetransmittedaswellaseconomiccapital(ifnotbetter,becausethecapitaltransferismoredis-guised).Butwhatistransmissibleislegalownershipandnot(ornotnecessarily)whatconstitutesthepreconditionforspecificappropriation,namely,thepossessionofthemeansof'consuming'apaintingorusingamachine,which,beingnothingotherthanembodiedcapital,aresubjecttothesamelaws
oftransmission.
8
Thusculturalgoodscanbeappropriatedbothmaterially-whichpresupposeseco-nomiccapital-andsymbolically-whichpresupposesculturalcapital.Itfollowsthattheownerofthemeansofproductionmustfindawayofappropriatingeithertheembod-iedcapitalwhichisthepreconditionofspe-cificappropriationortheservicesoftheholdersofthiscapital.Topossessthemachines,heonlyneedseconomiccapital;toappropriatethemandusetheminaccordancewiththeirspecificpurpose(definedbytheculturalcapital,ofscientificortechnicaltype,incorporatedinthem),hemusthaveaccesstoembodiedculturalcapital,eitherinpersonorbyproxy.Thisisnodoubtthebasisoftheambiguousstatusofcadres(executivesandengineers).Ifitisemphasizedthattheyarenotthepossessors(inthestrictlyeconomicsense)ofthemeansofproductionwhichtheyuse,andthattheyderiveprofitfromtheirowncul-turalcapitalonlybysellingtheservicesandproductswhichitmakespossible,thentheywillbeclassifiedamongthedominatedgroups;ifitisemphasizedthattheydrawtheirprofitsfromtheuseofaparticularformofcap-
ital,thentheywillbeclassifiedamongthedominantgroups.Everythingsuggeststhatastheculturalcapitalincorporatedinthemeansofproductionincreases(andwithitthe
periodofembodimentneededtoacquirethemeansofappropriatingit),sothecollectivestrengthoftheholdersofculturalcapitalwouldtendtoincrease-iftheholdersofthedominanttypeofcapital(economiccapital)werenotabletosettheholdersofculturalcapitalincompetitionwithoneanother.(Theyare,moreover,inclinedtocompetitionbytheveryconditionsinwhichtheyareselectedandtrained,inparticularbythelogicofscholasticandrecruitmentcompetitions.)Culturalcapitalinitsobjectifiedstatepre-sentsitselfwithalltheappearancesofanautonomous,coherentuniversewhich,althoughtheproductofhistoricalaction,hasitsownlaws,transcendingindividualwills,andwhich,astheexampleoflanguagewellillustrates,thereforeremainsirreducibletothatwhicheachagent,oreventheaggregateoftheagents,canappropriate(i.e.,tothecul-turalcapitalembodiedineachagentorevenintheaggregateoftheagents).However,itshouldnotbeforgottenthatitexistsassym-bolicallyandmateriallyactive,effectivecapi-talonlyinsofarasitisappropriatedbyagentsandimplementedandinvestedasaweaponandastakeinthestruggleswhichgooninthefieldsofculturalproduction(theartisticfield,thescientificfield,etc.)and,beyondthem,inthefieldofthesocialclasses-strugglesinwhichtheagentswieldstrengthsandobtain'profitsproportionatetotheirmasteryofthisobjectifiedcapital,andthereforetotheextentoftheirembodiedcapital.'
THEINSTITUTIONAUZEDSTATE
Theobjectificationofculturalcapitalintheformofacademicqualificationsisonewayofneutralizingsomeofthepropertiesitderivesfromthefactthat,beingembodied,ithasthesamebiologicallimitsasitsbearer.Thisobjec-tificationiswhatmakesthedifferencebetweenthecapitaloftheautodidact,whichmaybecalledintoquestionatanytime,oreventheculturalcapitalofthecourtier,whichcanyieldonlyill-definedprofits,offluctuat-ingvalue,inthemarketofhigh-societyexchanges,andtheculturalcapitalacademi-callysanctionedbylegallyguaranteedqualifi-cations,formallyindependentofthepersonoftheirbearer.Withtheacademicqualification,acertificateofculturalcompetencewhichconfersonitsholderaconventional,constant,legallyguaranteedvaluewithrespecttoculture,socialalchemyproducesaformof1'lIhlll"IIcapitlllwhichhasarclntivl:nulol1omyvllI'l\viIIitshl:arl:randevenvis-a-visthecul-111I'111npitnlheeffectivelypossessesatagivenIIHllncntintime,ItinstitutesculturalcapitalhVl'OlIectivemagic,justas,accordingto"".rll:nu-Ponty,thelivinginstitutetheirdeadIh!'llughtheritualofmourning.Onehasonly
tllthinkofthe
concours
(competitiveecruit-
1l1l'l1ll:xamination)which,outofthecontin-1111111finfinitesimaldifferencesbetween
I
"II'filrmances,producessharp,absolute,last-"11differences,suchasthatwhichseparatesIht,Instsuccessfulcandidatefromthefirst1I1\/llIccessfulone,andinstitutesanessential.111'rencebetweentheofficiallyrecognized,1IIIIII'IInteedompetenceandsimplecultural1111'11111,hichisconstantlyrequiredtoprove
11_.11I',
Inthiscase,oneseesclearlytheperfor-IIhlllvl:magicofthepowerofinstituting,theI",wl:rtoshowforthandsecurebeliefor,inaWIU'd,toimposerecognition.lIyconferringinstitutionalrecognitiononlilt'culturalcapitalpossessedbyanygiven1\1('~nt,heacademicqualificationalsomakesitI'IIMflibleocomparequalificationholdersand"Ventoexchangethem(bysubstitutingone101'anotherinsuccession).Furthermore,itIIInkesitpossibletoestablishconversionratesIIlHweenculturalcapitalandeconomiccapitalhyguaranteeingthemonetaryvalueofagivenIlI'ademiccapital.lOThisproductofthecon-vcrsionofeconomiccapitalintoculturalcapi-1nlestablishesthevalue,intermsofcultural!III
/
ital,oftheholderofagivenqualificationI'Cativetootherqualificationholdersand,byIhesametoken,themonetaryvalueforwhichItcnnbeexchangedonthelabormarket(aca-demicinvestmenthasnomeaningunlessaminimumdegreeofreversibilityofthecon-vc:rsionitimpliesisobjectivelyguaranteed).lIr.:causethematerialandsymbolicprofitswhichtheacademicqualificationguarantees.IKOdependonitsscarcity,theinvestmentsItlllde(intimeandeffort)mayturnouttobe
Irss
profitablethanwasanticipatedwhentheyweremade(therehavingbeena
de]acto
liIlangeintheconversionratebetweenacade-miccapitalandeconomiccapital),Thestrate-Itiesforconvertingeconomiccapitalintoculturalcapital,whichareamongtheshort-IeI'mfactorsoftheschoolingexplosionnndtheinflationofqualifications,aregov-ernedhychangesinthestructureofthechancesofprofitofferedhythedifferenttypes(}fcapital.
ThoForm.ofCapitol51SocialCapital
Socialcapitalistheaggregateoftheactualorpotentialresourceswhicharelinkedtopos-sessionofadurablenetworkofmoreorlessinstitutionalizedrelationshipsofmutualacquaintanceandrecognition--orinotherwords,tomembershipinagroupll-whichprovideseachofitsmemberswiththebackingofthecollectivity-ownedcapital,a'creden-tial'whichentitlesthemtocredit,inthevari-oussensesoftheword.Theserelationshipsmayexistonlyinthepracticalstate,inmater-ialandlorsymbolicexchangeswhichhelptomaintainthem.Theymayalsobesociallyinstitutedandguaranteedbytheapplicationofacommonname(thenameofafamily,aclass,oratribeorofaschool,aparty,etc.)andbyawholesetofinstitutingactsdesignedsimultaneouslytoformandinformthosewhoundergothem;inthiscase,theyaremoreorlessreallyenactedandsomaintainedandrein-forced,inexchanges.Beingbasedonindissol-ublymaterialandsymbolicexchanges,theestablishmentandmaintenanceofwhichpre-supposereacknowledgmentofproximity,theyarealsopartiallyirreducibletoobjectiverelationsofproximityinphysical(geographi-cal)spaceorevenineconomicandsocial
space.
12
Thevolumeofthesocialcapitalpossessedbyagivenagentthusdependsonthesizeofthenetworkofconnectionshecaneffectivelymobilizeandonthevolumeofthecapital(eco-nomic,culturalorsymbolic)possessedinhisownrightbyeachofthosetowhomheiscon-nected.13Thismeansthat,althoughitisrela-tivelyirreducibletotheeconomicandculturalcapitalpossessedbyagivenagent,orevenbythewholesetofagentstowhomheiscon-nected,socialcapitalisnevercompletelyindependentofitbecausetheexchangesinsti-tutingmutualacknowledgmentpresupposethereacknowledgmentofaminimumofobjectivehomogeneity,andbecauseitexertsamultipliereffectonthecapitalhepossessesinhisownright.Theprofitswhichaccruefrommember-shipinagrouparethebasisofthesolidaritywhichmakesthempossible.14Thisdoesnotmeanthattheyareconsciouslypursuedassuch,eveninthecaseofgroupslikeselectclubs,whicharedeliberatelyorganizedinordertoconcentratesocialcapitalandsotoderivefullbenefitfromthemultipliereffect
of 00

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