| Autor: |
Giovanni Ruta, Kirk Hamilton |
| Rok vydání: |
2007 |
| Předmět: |
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| Zdroj: |
Statistical Journal of the United Nations Economic Commission for Europe. 23:277-288 |
| ISSN: |
0167-8000 |
| Popis: |
Samuelson (1961) suggested that the best measure of social welfare would be a ‘wealth-like’ magnitude. This paper explains the approach to wealth measurement presented in Where is the Wealth of Nations? (World Bank 2006). We show how deriving a ‘top-down’ estimate of total wealth and ‘bottom-up’ estimates of produced and natural capital can reveal the importance of natural assets as a source of social welfare in low income countries. By measuring the real change in asset values (‘genuine’ saving) we can determine whether social welfare is increasing or decreasing as a result of current policies. Negative genuine saving indicates that future wellbeing will decline – i.e. that the economy is on an unsustainable path. We discuss the extensions to the SNA inherent in this approach. 1 The opinions expressed are those of the authors and not necessarily those of the World Bank. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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