Wealth, Structure and Functioning of Modern Economies

  • Edward B. Barbier


In the previous two chapters, we learned that the economic wealth of a nation comprises three distinct assets: manufactured, or reproducible, capital, such as roads, buildings, machinery and factories; human capital, such as the skills, education and health embodied in the workforce; and natural capital, including land, forests, fossil fuels and minerals and ecosystems that provide valuable goods and services. However, the total or national wealth of an economy also includes the accumulation of sizable financial assets, such as monetary metals and currency, bank accounts, government bonds, corporate bonds and stocks, mutual funds, insurance policies, pension funds, trade credit, and foreign-owned assets (see Figure 1.1).


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Copyright information

© Edward B. Barbier 2015

Authors and Affiliations

  • Edward B. Barbier
    • 1
  1. 1.University of WyomingUSA

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