Published on 25 July 2019
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Measuring wealth, delivering prosperity

Wealth Economy Project: Natural and Social Capital
Interim Report to LetterOne

Publisher: Bennett Institute for Public Policy, University of Cambridge
Published: 25 July 2019
As the consequences of climate change, social tensions and high levels of inequality are increasingly evident, the Bennett Institute for Public Policy at the University of Cambridge has published its initial report for the Wealth Economy Project on how to improve economic measurement in order to guide effective economic policymaking.
This project is headed by Institute co-director Professor Diane Coyle.
Dimitri Zenghelis | Project Leader
Matthew Agarwala | Research Leader
Marco Felici | Research Assistant
Saite Lu | Research Assistant
Julia Wdowin | Research Assistant

The report recommends focusing on an alternative measurement framework based on the “wealth economy” rather than just GDP: wealth is determined by the access to a range of economic assets people need to fulfil their economic potential and the long-term capacity of the economy to deliver sustainable growth and improving living standards.
The forward-looking element of this new economic framework makes it a better indicator of sustainability in terms of the economy and society as well as the natural environment than annual output or GDP.
This ambitious framework requires measurement of access to six types of economic assets that add up to what is known as comprehensive wealth of the nation.
1.    Physical assets and produced capital, including access to infrastructure and to new technologies
2.    Net financial capital
3.    Natural capital, the resources and services provided by nature
4.    Intangible assets such as intellectual property and data
5.    Human capital, the accumulated skills and the physical and mental health of individuals
6.    Social and institutional capital


Diane Coyle 2018

Professor Diane Coyle

Bennett Professor of Public Policy and Co-Director of the Bennett Institute for Public Policy

Professor Coyle co-directs the Institute with Professor Kenny. She is heading research under the progress and productivity themes. Biography Professor Dame Diane Coyle is the Bennett Professor of Public Policy...

Dimitri Zenghelis

Dimitri Zenghelis

Special Advisor: The Wealth Economy

Dimitri Zenghelis is a Senior Visiting Fellow at the Grantham Research Institute at the LSE where, from 2013-2017, he was Head of Climate Policy. In 2014 he was Acting Chief...

Matthew Agarwala

Dr Matthew Agarwala

Project Leader: The Wealth Economy

Dr Matthew Agarwala is an economist interested in wealth-based approaches to measuring and delivering sustainability, wellbeing, and productivity. His research is motivated by the belief that 21st century progress cannot...

Saite Lu

Dr Saite Lu

Affiliated Researcher

Saite Lu is an Affiliated Researcher at the Bennett Institute for Public Policy, and the Mead Fellow in Economics at Emmanuel College where he supervises College economists on a range of...

Marco Felici

Dr Marco Felici

Affiliated Researcher

Dr Marco Felici works at the intersection of policy and research, with interests spanning household finance, housing, subjective wellbeing, and mental health. With colleagues at the Bennett Institute, he explores...

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