In this paper we extend previous reviews of the social capital literature to encompass an ethics perspective. First, we update previous reviews of social capital. Social capital continues to gain currency in both academic and practical circles, despite relatively little critical reflection on the implications of promoting this popular concept. Our work goes some way to rectifying this paucity in understanding what has been termed the ‘dark side’ of social capital. In particular, we review the social capital concept from the perspective of three theories of business ethics: utilitarianism, justice and ethic of care. While the utilitarian perspective closely parallels accounts of social capital’s rationale, the concept’s operation is mirrored very closely by the assumptions underpinning the ethic of care, while the dark side of social capital is commonly given voice in justice-based critiques. We conclude by considering the implications of our analysis
