EconPapers    
Economics at your fingertips  
 

Inclusive wealth in the twenty-first century: a summary and further discussion of Inclusive Wealth Report 2018

Rintaro Yamaguchi, Moinul Islam () and Shunsuke Managi

Letters in Spatial and Resource Sciences, 2019, vol. 12, issue 2, No 2, 111 pages

Abstract: Abstract It is increasingly common to judge the sustainable development of nations by non-declining social well-being. Determinants of social well-being have been measured and used for sustainability analysis. In particular, inclusive wealth per capita, which comprises produced, human, and natural capital, was reported in the Inclusive Wealth Report in 2012 and 2014. Here, we report the updates of the third edition of the report, which covers 140 countries from 1990 to 2014. In per capita terms, only 60% out of 140 countries show non-declining wealth for the past quarter century. Most countries, both developed and developing, fall into the group of running down natural capital and increasing produced and, to a lesser extent, human capital. We also include fishery stock as part of natural capital, and we find that only a few countries have increased their fishery capital in the studied period. Inclusive wealth has typically grown much less than GDP per capita and does not resemble change in other development indices. Globally aggregated produced and human capital per capita increased 94% and 28%, respectively, while natural capital per capita declined by 34%. In 2014, produced, human, and natural capital account for 24%, 64%, and 11%, respectively, which is similar to the recent findings by the World Bank. In addition, inclusive wealth is approximately 12 times GDP on average, much higher than conventional wealth-income ratios globally, and is at least at par with those ratios in high-income countries under financialization.

Keywords: Sustainable development; Inclusive wealth; Natural capital; Produced capital; Human capital (search for similar items in EconPapers)
JEL-codes: Q01 E01 I15 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1007/s12076-019-00229-x Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:lsprsc:v:12:y:2019:i:2:d:10.1007_s12076-019-00229-x

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/12076

DOI: 10.1007/s12076-019-00229-x

Access Statistics for this article

Letters in Spatial and Resource Sciences is currently edited by Henk Folmer and Amitrajeet A. Batabyal

More articles in Letters in Spatial and Resource Sciences from Springer
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2020-07-04
Handle: RePEc:spr:lsprsc:v:12:y:2019:i:2:d:10.1007_s12076-019-00229-x