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National WealthWhat is Missing, Why it Matters$
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Kirk Hamilton and Cameron Hepburn

Print publication date: 2017

Print ISBN-13: 9780198803720

Published to Oxford Scholarship Online: October 2017

DOI: 10.1093/oso/9780198803720.001.0001

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(p.449) 20 Conclusion
National Wealth

Kirk Hamilton

Cameron Hepburn

Oxford University Press

Investors regularly interrogate corporate balance sheets; citizens should be able to interrogate their national balance sheets in much the same way. This chapter advances the view that the widespread adoption of national wealth measures could soon become a reality if demand from key actors in policymaking and civil society is sustained. What would this mean for future policy directions? Just as there has long been a fixation on increasing the rate of GDP growth, it is plausible that the availability of national wealth measures could lead to calls for greater wealth. This would lead to a focus on policies different from those targeted at increasing output. As the concept and definition of national wealth become more established, six dimensions arise to drive policy and implementation questions such as this one. These dimensions are wealth measurement, composition, distribution, generation, management, and sustainability. This chapter considers the emerging questions and possible conclusions.

Keywords:   wealth, GDP, national accounts, wealth generation, economic policy

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