Reconciling Inclusive Wealth and Piketty: Natural Capital and Wealth in the 21st Century - Inclusive Wealth Report 2018: Measuring Sustainability and Well-being Chapter 4

Date
2019Author
Barbier, Edward
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RT Generic T1 Reconciling Inclusive Wealth and Piketty: Natural Capital and Wealth in the 21st Century - Inclusive Wealth Report 2018: Measuring Sustainability and Well-being Chapter 4 A1 Barbier, Edward YR 2019 LK https://wedocs.unep.org/20.500.11822/27620 PB United Nations Environment Programme AB TY - GEN T1 - Reconciling Inclusive Wealth and Piketty: Natural Capital and Wealth in the 21st Century - Inclusive Wealth Report 2018: Measuring Sustainability and Well-being Chapter 4 AU - Barbier, Edward Y1 - 2019 UR - https://wedocs.unep.org/20.500.11822/27620 PB - United Nations Environment Programme AB - @misc{20.500.11822_27620 author = {Barbier, Edward}, title = {Reconciling Inclusive Wealth and Piketty: Natural Capital and Wealth in the 21st Century - Inclusive Wealth Report 2018: Measuring Sustainability and Well-being Chapter 4}, year = {2019}, abstract = {}, url = {https://wedocs.unep.org/20.500.11822/27620} } @misc{20.500.11822_27620 author = {Barbier, Edward}, title = {Reconciling Inclusive Wealth and Piketty: Natural Capital and Wealth in the 21st Century - Inclusive Wealth Report 2018: Measuring Sustainability and Well-being Chapter 4}, year = {2019}, abstract = {}, url = {https://wedocs.unep.org/20.500.11822/27620} } TY - GEN T1 - Reconciling Inclusive Wealth and Piketty: Natural Capital and Wealth in the 21st Century - Inclusive Wealth Report 2018: Measuring Sustainability and Well-being Chapter 4 AU - Barbier, Edward UR - https://wedocs.unep.org/20.500.11822/27620 PB - United Nations Environment Programme AB -View/Open
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The purpose of this chapter is to adjust Piketty’s method of estimating long-run trends in wealth-income ratios with net income and savings taking into account natural capital depreciation. In addition, the analysis is extended from Piketty’s original group of eight rich countries to 30 high income economies that are members of the Organization for Economic Cooperation and Development (OECD) over 1970 to 2014. Evidence suggests that growing income and wealth inequality has been pervasive in all OECD economies (OECD 2011), and thus determining whether natural capital depreciation impacts long-run wealth accumulation in these economies may be an important factor underlying this trend.
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