Estimates of total factor productivity growth, a measure of increases in the efficiency of production, have traditionally been based on a two-factor model of labor and fixed capital. Because profits are measured residually in the System of National Accounts, they implicitly include rents on...

"Countries regularly track gross domestic product (GDP) as an indicator of their economic progress, but not wealth the assets such as infrastructure, forests, minerals, and human capital that produce GDP. In contrast, corporations routinely report on both their income and assets to assess their...

Front Cover -- Contents -- Foreword -- Acknowledgments -- Abbreviations -- Executive Summary -- Key Findings -- Why Should We Measure Wealth? -- What Is New in This Version of The Changing Wealth of Nations? -- Global and Regional Trends from 1995 to 2014 -- Natural Capital and Development --...

Countries regularly track gross domestic product (GDP) as an indicator of their economic progress, but not wealth—the assets such as infrastructure, forests, minerals, and human capital that produce GDP. In contrast, corporations routinely report on both their income and assets to assess their...