Sustaining Economic Welfare: Estimating Changes in Total and Per Capita Wealth

Genuine saving measures the real change in0 total wealth, factoring in the depreciation of produced assets, depletion of natural resources, pollution damages, and expenditures on education. This paper presents a theoretical framework for measuring changes in wealth in total and per capita terms, establishes the link between savings measures and prospects for social welfare, and provides summary empirical estimates of the savings measures. China excepted, the majority of countries below median income are distinguished by apparent declines in total wealth per capita.