The World Bank has based its latest report on global wealth on a new method of calculation
A passage in the new study by the World Bank on development of global wealth caught our eye: „Growth (of wealth) is in part about more efficient use of natural capital and investing the earnings … into infrastructure and education.“ With regard to aspiring natural stone producing countries this means that production of raw blocks should be but the first phase and soon be followed by technology and know-how in value added products including investment in training employees.
„The Changing Wealth of Nations 2018: Building a Sustainable Future“ is a first for the World Bank inasmuch as focus is not only on Gross Domestic Product (GDP) but also on natural resources, forests, buildings and structures, infrastructure, foreign wealth and most importantly, human capital.
Core statement is: Wealth increased equally overall in the last two decades from 1995 – 2014 but the distribution is concentrated in the industrial world.
Asian countries were the net winners, closing the gap.
Per Capita wealth still reflects an enormous gap between rich and poor especially in sub-Sahara countries where negative growth was noted.
Human Capital was identified as the key factor in a country’s increase in standard of living, i.e. life-long income of a person. „Our study takes leave of the old theory that development always goes hand in hand with depletion of natural resources“, according to Karin Kemper, Senior Director, World Bank Environment and Natural Resources Global Practice.
(07.03.201, USA: 03.07.2018)