"Written by a team including Kirk Hamilton [and others]"--Page viii.
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Extends and expands the work done in Expanding the measure of wealth (World Bank, 1997) to provide a comprehensive snapshot of wealth for 120 countries at the turn of the millennium.
INTERNAL BIBLIOGRAPHIES/INDEXES NOTE
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Includes bibliographical references (pages 173-180) and index.
CONTENTS NOTE
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The Millennium capital assessment -- The wealth stock estimates -- Recent genuine saving estimates -- The importance of investing resource rents: a Hartwick Rule counterfactual -- The importance of population dynamics: changes in wealth per capita -- Testing genuine saving -- Explaining the intangible capital residual: the role of human capital and institutions -- Wealth and production -- Developing and using environmental accounts.
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SUMMARY OR ABSTRACT
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The book presents estimates of total wealth for nearly 120 countries, using economic theory to decompose the wealth of a nation into its component pieces: produced capital, natural resources and human resources. The wealth estimates provide a unique opportunity to look at economic management from a broader and comprehensive perspective. The book's basic tenet is that economic development can be conceived as a process of portfolio management, so that sustainability becomes an integral part of economic policy making. The rigorous analysis, presented in accessible format, tackles issues such as g.