The Changing Wealth of Nations 2018

Description

"Countries regularly track gross domestic product (GDP) as an indicator of their economic progress, but not wealth the assets such as infrastructure, forests, minerals, and human capital that produce GDP. In contrast, corporations routinely report on both their income and assets to assess their economic health and prospects for the future. Wealth accounts allow countries to take stock of their assets to monitor the sustainability of development, an urgent concern today for all countries. [This book] covers national wealth for 141 countries over 20 years (1995 2014) as the sum of produced capital, 19 types of natural capital, net foreign assets, and human capital overall as well as by gender and type of employment...New data substantially improve estimates of natural capital, and, for the first time, human capital is measured by using household surveys to estimate lifetime earnings. [This book] begins with a review of global and regional trends in wealth over the past two decades and provides examples of how wealth accounts can be used for the analysis of development patterns. Several chapters discuss the new work on human capital and its application in development policy. The book then tackles elements of natural capital that are not yet fully incorporated in the wealth accounts: air pollution, marine fisheries, and ecosystems."--

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