Our Intangible Riches

World Bank economist Kirk Hamilton on the planet's real wealth.

Ronald Bailey | Aug./Sept. Print Edition

I woulda thought most of the money in the world sits in rich peoples bank accounts. acculmilating all our money in intrest.

interesting! the evolution of Adam Smith's work as applied in the 21st century.

<i>...new estimates of total wealth, including produced capital, natural resources, and the value of human skills and capabilities, which show that many of the poorest countries in the world are not on a sustainable path.</i>

new measurement is alarming.

No, it's what Marx called the 'social wage.' Smith had a problem understanding property that was not individually owned (the commons, as it was once called); this is wealth owned collectively.

true. i was referring to new measurement as alarming. when "many poor countries are not on a sustainable path" according to the World Bank.