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from Part I - Wealth Creation
Published online by Cambridge University Press: 11 January 2021
After a brief semantic exploration of the term wealth, the chapter raises the question of what makes a country rich or wealthy. Several international studies define the wealth of a nation in stocks (like a balance sheet), which includes physical, natural, human and social capital. These measures in stocks are central to measuring sustainability (see OECD conceptual framework of well-being in Chapter 4). The chapter presents and discusses the conceptualizations proposed by the Stiglitz-Sen-Fitoussi Report (2009), three World Bank publications on the wealth of nations (2006, 2011, 2018) and the Human Development Report 2010 on people as the real wealth of nations. This discussion prepares the ground for elaborating the substantive contents of natural, economic, human and social capital in the following chapter.
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