Title: National wealth : what is missing, why it matters /
Authors: Hamilton, Kirk, 1951-; Hepburn, Cameron, 1976-
Year: 2017
Subjects: Kapitalakkumulation.; Vermögensverteilung; Wohlstand; Reichtum.; Wealth Econometric models.; Economics; BUSINESS & ECONOMICS / Economics / General.; BUSINESS & ECONOMICS / Reference.; Economics; Wealth Econometric models
Abstract: "Why are some nations wealthy and others poor? How did the wealthy nations become rich? What are the components of wealth? How should nations manage their wealth for the future? These are among the most important questions in economics. They are also impossible to answer without defining wealth, and understanding how it can be created, destroyed, stored, and managed. National Wealth: What is Missing, Why it Matters assembles a collection of high-quality contributions to define the key concepts and address the economic and policy issues around national wealth. It considers insights from economic history, addresses the impacts of the changes to national accounting, and teases out the policy implications for both rich and poor countries and the institutions within them. Using expert analysis and theoretically grounded empirical work, this book evaluates the progress that has been made in measuring national wealth, as well as the recent developments in theory and practice which show that the change in real wealth is an essential indicator of economic progress and future well-being. Measuring the change in real wealth answers the fundamental question: How much does the stream of future well-being of the population rise or fall as a result of policy actions today? Organized into four parts, National Wealth defines the key political and economic concepts of wealth. examines the history of wealth creation and destruction, and provides a detailed analysis of the individual components of wealth before finally examining the lessons for managing wealth for sustainable national prosperity."--
Contents: The political economy of national statistics / Diane Coyle -- A tight connection among wealth, income, sustainability, and accounting in an ultra-simplified setting / Martin L. Weitzman -- Wealth and happiness / Claudia Senik -- A sustainable century? Genuine savings in developing and developed countries, 1900-2000 / Matthias Blum, Cristián Ducoing, and Eoin McLaughlin -- Household wealth trends in the US, 1983 to 2010 / Edward N. Wolff -- Historical wealth accounts for Britain: progress and puzzles in measuring the sustainability of economic growth / Eoin McLaughlin, Nick Hanley, David Greasely, Jan Kunnas, Les Oxley, and Paul Warde -- Wealth, top incomes, and inequality / Frank Cowell, Brian Nolan, Javier Olivera, and Philippe Van Kern -- Wealth creation and the entrepreneurial state / Mariana Mazzucato -- Recording environmental assets in the national accounts and the Australian experience / Carl Obst and Michael Vardon -- Human capital, tangible wealth, and the intangible capital residual / Kirk Hamilton and Gang Liu -- Social capital, trust, and well-being in the evaluation of wealth / Kirk Hamilton, John F. Helliwell, and Michael Woolcock -- Infrastructure: political economy of wealth creation / Michael Klein -- Cities, wealth, and the era of urbanization / Dimitri Zenghelis -- Wealth and sustainability / Kirk Hamilton and John Hartwick -- Sustainable economic growth and the role of natural capital / Dieter Helm -- Finance, wealth, technological innovation, and regulation / Colin Mayer -- The economics of sovereign wealth funds / Rolando Ossowski and Håvard Halland -- Sustainable management of natural resource wealth / Rick van der Ploeg.