Strategies of Daily Life: Social Capital and the Informal Economy in Russia.

Social capital, or social network resources, is one of many resources or types of capital which people use in problem-solving strategies in daily life. Financial, physical, human and social capital are all utilized in daily strategies by transforming resources from one form to another, depending on the social context and problems that arise. In contrast to the Soviet era, post-socialist transition economy is characterized by the growing need to transform other resources into financial capital. This article presents ethnographic material from Novosibirsk, in central Siberia, which illustrates various strategies for transforming social and human capital into financial capital. Mobilization of social and human capital occurs most often in the context of the informal economy, which includes a wide range of activities beyond street selling. Informal economic activity is essential to the problem-solving strategies, and survival, of individuals in this post-Soviet urban environment. [ABSTRACT FROM AUTHOR]