Elizabeth Albrycht’s latest article at Blogging Planet, Collaboration Requires Contribution, provides a nice exploration of how blogging might enhance social capital. Her article includes a number of specific pieces of advice for how companies can use blogs to build community, and draws the connection between active participation in online content creation, and the development of online social capital:

If you want to be considered a thought leader, to help drive an industry forward, it is becoming increasingly important that you become an active player in online communities, probably via the blogosphere.

There’s still more to be learned about how content creation fuels participation, and how participation turns into social capital, but this is a great start.