The paper seeks to draw out the connections between social capital, collective intelligence and expansive learning, interrogating the terms for their progressive potential. It sets these concepts within their socio-economic context, one which asserts that the development of social capitalwill be a vehicle for economic regeneration and competitiveness as well as a mechanism for the generation of social inclusion and cohesion. It concludes by arguing that the debate is set within a context that accepts capitalist relations and that this places a limit on the progressive potential of social capital, collective intelligence and expansive learning.