TY - JOUR
T1 - Historical wealth accounts for Britain
T2 - Progress and puzzles in measuring the sustainability of economic growth
AU - McLaughlin, Eoin
AU - Hanley, Nick
AU - Greasley, David
AU - Kunnas, Jan
AU - Oxley, Les
AU - Warde, Paul
N1 - Funding Information:
* University of Edinburgh, e-mail: [email protected] ** University of Stirling, e-mail: [email protected] *** University of Edinburgh, e-mail: [email protected] **** University of Stirling, e-mail: [email protected] ***** University of Waikato, e-mail: [email protected] ****** University of East Anglia, e-mail: [email protected] We thank the Leverhulme Trust for funding this research under the project ‘History and the Future’. We also thank Kirk Hamilton, David Maddison, and an anonymous referee for comments on an earlier version of this paper. doi:10.1093/oxrep/gru002
PY - 2014
Y1 - 2014
N2 - Estimates of Britain's comprehensive wealth are reported for the period 1760-2000. They include measures of produced, natural, and human capital, and illustrate the changing composition of Britain's assets over this time period. We show how genuine savings, GS (a year-on-year measure of the change in total capital and a claimed indicator of sustainable development) has evolved over time. Changes in total wealth are compared to alternative, investment-based measures of GS, including variants augmented with the value of exogenous technology. Additionally, the possible effects of population change on wealth, and the implications of including carbon-dioxide emissions in natural capital are considered.
AB - Estimates of Britain's comprehensive wealth are reported for the period 1760-2000. They include measures of produced, natural, and human capital, and illustrate the changing composition of Britain's assets over this time period. We show how genuine savings, GS (a year-on-year measure of the change in total capital and a claimed indicator of sustainable development) has evolved over time. Changes in total wealth are compared to alternative, investment-based measures of GS, including variants augmented with the value of exogenous technology. Additionally, the possible effects of population change on wealth, and the implications of including carbon-dioxide emissions in natural capital are considered.
KW - British economic history
KW - Comprehensive wealth
KW - Genuine savings
KW - Sustainability
UR - http://www.scopus.com/inward/record.url?scp=84901488710&partnerID=8YFLogxK
U2 - 10.1093/oxrep/gru002
DO - 10.1093/oxrep/gru002
M3 - Article
AN - SCOPUS:84901488710
SN - 0266-903X
VL - 30
SP - 44
EP - 69
JO - Oxford Review of Economic Policy
JF - Oxford Review of Economic Policy
IS - 1
ER -
