Historical wealth accounts for Britain: progress and puzzles in measuring the sustainability of economic growth

McLaughlin, E., Hanley, N. , Greasley, D., Kunnas, J., Oxley, L. and Warde, P. (2014) Historical wealth accounts for Britain: progress and puzzles in measuring the sustainability of economic growth. Oxford Review of Economic Policy, 30(1), pp. 44-69. (doi: 10.1093/oxrep/gru002)

Full text not currently available from Enlighten.

Abstract

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.

Item Type:Articles
Additional Information:We thank the Leverhulme Trust for funding this research under the project ‘History and the Future’.
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Hanley, Professor Nicholas
Authors: McLaughlin, E., Hanley, N., Greasley, D., Kunnas, J., Oxley, L., and Warde, P.
College/School:College of Medical Veterinary and Life Sciences > School of Biodiversity, One Health & Veterinary Medicine
Journal Name:Oxford Review of Economic Policy
Publisher:Oxford University Press
ISSN:0266-903X
ISSN (Online):1460-2121

University Staff: Request a correction | Enlighten Editors: Update this record