BookNational Wealth

‘National Wealth: What is Missing, Why it Matters’ is our forthcoming book on national wealth accounting. Edited by Kirk Hamilton and Cameron Hepburn, and published by Oxford University Press, the volume brings together a collection of cutting-edge contributions by leading economists to define the key concepts and address the economic and policy issues around national wealth. The book is slated for publication in the fall of 2017, and its dedicated page can be accessed here. Contributing authors and participants can be found here.

The book began as a special issue on wealth published in the Oxford Review of Economic Policy in 2014 (which itself built upon the foundational work of Kirk Hamilton and the World Bank). Following a very positive reception in the academic community, the results of the issue were presented at HM Treasury to a packed audience spanning multiple departments across Government. The initiative developed further into the forthcoming book, the accompanying wealth conference (see below), and the larger wealth project that this website is dedicated to.


Wealth Conference2733-026

The 2016 Wealth Conference brought together leading economists, practitioners and stakeholders for a 2-day event held in Waddesdon Manor. A mix of presentations, panel discussions and moderated debate served to facilitate a lively exchange of ideas on the different components of national wealth, implications for policymakers, progress to date, and the obstacles ahead. The conference was also a valuable opportunity for authors contributing to the forthcoming book ‘National Wealth: What is Missing, Why it Matters’ (see above) to present and receive feedback on their chapters ahead of publication.

Some of the topics discussed included:

  • The relationship among wealth, income, and sustainability
  • The political economy of national statistics
  • Wealth and inequality
  • Infrastructure and wealth creation
  • Cities and the nodes of physical and human capital
  • Natural capital
  • Sovereign wealth funds

The conference was filmed and can be watched in full here. For highlights, please see select presentations below.


Professor Martin Weitzman on the fundamental four-fold relationship among wealth, income, sustainability, and accounting
Opening keynote

The concepts, economics, and politics of wealth accounts
Panel discussion with Diane Coyle (University of Manchester), Pushpam Kumar (UNEP), Glenn-Marie Lange (World Bank),
and John Hartwick (Queen’s University), chaired by Dieter Helm (University of Oxford)

Professor Mariana Mazzucato on wealth creation and the state

Professor Dieter Helm on Natural Capital

The way forward for national wealth
Panel discussion with Glenn-Marie Lange (World Bank), Dimitri Zenghelis (LSE), Kirk Hamilton (LSE), Diane Coyle (University of Manchester)