National Wealth: What is Missing, Why it Matters by Kirk HamiltonNational Wealth: What is Missing, Why it Matters by Kirk Hamilton

National Wealth: What is Missing, Why it Matters

EditorKirk Hamilton, Cameron Hepburn

Hardcover | October 7, 2017

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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 definingwealth, 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 nationalaccounting, and teases out the policy implications for both rich and poor countries and the institutions within them. Using expert analysis and theory backed by 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 tell us that the change in real wealth (net saving) is an essential indicator of economicprogress. Net national saving, measured comprehensively and adjusted to reflect the investment in and the depreciation of the full range of assets measured in national wealth, is an indicator of the change in future wellbeing. Governments can use this measure to answer a fundamental question: Howmuch does the stream of future wellbeing of the population rise or fall as a result of policy actions today?The book is organized into four parts. Part one provides the political context and defines the key concepts. Part two examines the history of wealth creation and destruction. Part three provides a more detailed analysis of the individual components of wealth, and finally, part four examines thelessons for managing wealth for sustainable national prosperity.
Dr Kirk Hamilton is a visiting professor at the London School of Economics and Political Science and Emeritus Lead Economist in the Development Research Group of The World Bank. He is co-author of The Changing Wealth of Nations (World Bank 2011) and World Development Report 2010 Development and Climate Change. He is principal author of...
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Title:National Wealth: What is Missing, Why it MattersFormat:HardcoverDimensions:528 pagesPublished:October 7, 2017Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198803729

ISBN - 13:9780198803720

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Table of Contents

Part One: Concepts1. Kirk Hamilton and Cameron Hepburn: Introduction2. Diane Coyle: The Political Economy of National Statistics3. Martin L. Weitzman: A Tight Connection Among Wealth, Income, Sustainability and Accounting in an Ultra-Simplified Setting4. Claudia Senik: Wealth and HappinessPart Two: History of Wealth Creation and Destruction5. Matthias Blum, Cristian Ducoing, Eoin McLaughlin: A Sustainable Century: Genuine Savings in Developing and Developed Countries, 1900-20006. Edward N. Wolff: Household Wealth Trends in the US, 1983 to 20107. Eoin McLaughlin, Nick Hanley, David Greasley, Jan Kunnas, Les Oxley, and Paul Warde: Historical Wealth Accounts for Britain: Progress and Puzzles in Measuring the Sustainability of Economic Growth8. Frank Cowell, Brian Nolan, Javier Olivera, and Philippe Van Kerm: Wealth, Top Incomes, and Inequality9. Mariana Mazzucato: Wealth Creation and the Entrepreneurial StatePart Three: Components of Wealth10. Carl Obst and Michael Vardon: Recording Environmental Assets in the National Accounts11. Kirk Hamilton and Gang Liu: Human Capital, Tangible Wealth, and the Intangible Capital Residual12. Kirk Hamilton, John F. Helliwell, and Michael Woolcock: Social Capital, Trust, and Well-being in the Evaluation of Wealth13. Michael Klein: Infrastructure: Political Economy of Wealth Creation14. Dimitri Zenghelis: Nodes of Capital: Cities, Wealth, and the Era of UrbanizationPart Four: Wealth and Sustainability15. Kirk Hamilton and John Hartwick: Wealth and Sustainability16. Dieter Helm: Sustainable Economic Growth and the Role of Natural Capital17. Colin Mayer: Finance, Wealth, Technological Innovation, and Regulation18. Rolando Ossowski and Havard Halland: The Economics of Sovereign Wealth Funds19. Rick van der Ploeg: Sustainable Management of Natural Resource WealthPart Five: Conclusion20. Kirk Hamilton and Cameron Hepburn: Conclusion