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Social Capital" has become an increasingly important concept in studies of public health, economic development, crime...

Social Capital" has become an increasingly important concept in studies of public health, economic development, crime prevention, and other outcomes.  It is defined as the networks of formal and informal relationships between individuals in a community that facilitate the exchange of information and support and enable collective action.  Communities that are low in social capital, for example, are predicted to experience less economic vitality, more crime, and more psychological stress.

If you were trying to measure "social capital" in a community, using the above definition, how would you operationalize this concept?

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Social capital has constructs that are really  abstract and require us to provide subjective interpretation in their translation into operational measures. It is not quite easy to measure it. Some people suggest trust as the biggest measuring force for it. There are others who suggest that it can measured best using the mutual understanding that the society has for each other which later lays the foundation of a dependent society that is ready to give in anything for the growth and development of its people. There are multi modal presentations for it and we cannot relate with one by not affirming to the others. To operationalise it, we may like to consider various aspects like surveys, discussions , open forum talks with the people around which in turn would lead us to believe and agree on what the majority have to say. After all it is something led by the people, for the people and of the people.

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