Chapter 6 The Forms of Capital

“The social world is accumulated history.”

Normative Belief in Life Roulette  imaginary universe of perfect competition or perfect equality of opportunity Reality: heredity and acquired properties  accumulation

Reality of the World Structure of the distribution of different types of capital represents the immanent structure of the social world  Set of constraints inscribed in the reality

Capital Three types: Economic  money/property Cultural capital  knowledge/educational credentials Social capital  networks/connections

Cultural Capital ** notion of cultural capital made it possible to explain the unequal academic achievement of children from different social classes Norm  academic success/failure is an effect of natural aptitudes

Cultural Capital ** Academic ability/talent is itself the product of an investment of time and cultural capital ** Scholastic yield from education  cultural capital invested by family mobilized by Social Capital

Embodied State External wealth converted into an integral part of the person  recognized as legitimate competence; as inherent in the person ** Accumulation of Cultural Capital starts at the outset only for families endowed with Cultural Capital Covers the entire period of socialization; specifically free from time from economic necessity; ** precondition for initial accumulation

Objectified State Material objects: Books Writings Paintings Art ** can be appropriated both symbolically or materially  obtain profits based on mastery of the object

Institutionalized State Academic qualifications  certificate of competence ** Performative magic of the power of instituting  impose recognition Chance of profit offered specific to types  depend on scarcity and investment

Social Capital Network of institutionalized relationships of mutual acquaintance and recognition: membership in a group provides members with collectively owned capital credentials that entitles them to credit i.e. family name size of the network s/he can mobilize and the volume of capital possessed by each group as homogenous as possible Reproduction  continuous series of exchanges in which recognition is offered and reoffered

Conversions Economic capital is at the root Transmitted by family Ability to purchase time Transmission of Cultural Capital Delay entry into the work force Prolonged schooling Invisible in the process of status attainment

Entitlements Birth determines transmission of entitlements  Institutional mechanisms control the official direct transmission of power and privilege