The traditional vision of genocide is exogenous. In this framework, ethnics have a real sense. The economic approach of conflicts has expressed slight differences in the relation between ethnics and conflicts. However it does not reject this explanation. Here we propose an alternative approach, an endogenous vision of genocide. Genocide appears in society where social capital plays a major role in solidarities. But social capital is a weak asset in the individual portfolio. Economic and social shocks may have impacts on the assets structure and may produce conflicts such as genocide. In this new framework, policy makers may have to adopt prudential rules. .