Chapter 6 The Forms of Capital

1. Chapter 6The Forms of Capital

2. “The social world is accumulated history.”

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

4. 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

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

6. 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

7. 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

8. 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

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

10. 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

11. 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

12. 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

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