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This chapter focuses on social capital and waves of innovation in the risk society. There seems little inclination on the part of policy-makers to attempt to deal with the problems outlined here by attempting to reverse the globalization of markets and thereby reduce the force and frequency of waves of creative destruction. On the contrary, the search for competitive advantage means that national and regional governments wish their areas and locales to be in the forefront of such waves. We can also suppose that the speeding up of waves of technological and infrastructural obsolescence will mean that it will not necessarily be obviously mature or ageing technologies that will be the victims of new developments. We must therefore look for indicators of the ability of social structures to withstand these waves, and at the same time of the ability of individuals to ride them out. In regard to communities this means looking for the factors which encourage investment in social capital. In regard to individuals it means looking for the factors which enable them to make the transitions from one wave to the next. We hope to find some common factors here, so that the health of the community and the success of the nomadic individual may be reconciled.