Human Capital and Social Capital: What's the difference?

I would like to take a step back and review some of the basic ideas surrounding the burgeoning field of social capital. Many people I have spoken to feel excluded from the discussion about social capital because it is a relatively new term, it is about apparently intangible things and is rarely described in ways that connect it with real life. Abstract notions such as ‘norms’ and ‘networks’ do not help those entering the discussion relate the ideas to everyday activities. Many consider that social capital is ‘old wine in new bottles’ – another word for, say, community development or a sound learning environment. In addition, many people are confused about the differences between social capital and human capital. Is there a difference? Why does the difference matter? This commentary is an effort to address these matters. I will then close with a discussion about the differences between human and social capital in relation to adult learning. Readers can then enter the discussion and start to critique the ideas and practicality involved, and a new debate can emerge if needed.