How Should Personal and National Wealth Be Measured?

How we measure wealth, riches, abundance, and well-being is more important today than ever. Topics covered include:How late 18th century philosophers Adam Smith and the Earl of Lauderdale defined wealth and the role of capital. Why they worried about income inequality and excess profitsWhat led to the dramatic increase in life expectancy and wealth in the 20th and 21st centuriesHow a long life expectancy and well-being can be attained at much lower levels of wealthWhy John Maynard Keynes was right about the expansion of the economy but wrong about how many hours we would workHow the U.S. expanded its wealth relative to the rest of world, and at what costWhy natural capital should be included in measuring wealth For more information on this episode click here. Sponsors Money Pickle – Schedule a free 45-minute video chat with a vetted financial advisor and ask them anything about your financial situation. Go here to schedule your free session. Brooklinen Use code DAVID20 for $20 off plus free shipping Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter. Show Notes An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith—Early Modern Texts About Adam Smith—Adam Smith Institute An Inquiry Into the Nature and Origin of Public Wealth and Into the Means and Causes of Its Increase by The Earl of Lauderdale—McMaster University Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail by Ray Dalio—Simon & Schuster The Economics of Biodiversity: The Dasgupta Review—GOV.UK Less Is More: How Degrowth Will Save the World by Jason Hickel—Penguin Random House Economic Possibilities for Our Grandchildren by John Maynard Keynes—Yale America’s economic outperformance is a marvel to behold—The Economist How Much is Enough? Money and the Good Life by Robert Skidelsky and Edward Skidelsky—Penguin Random House  Related Episodes 8: What If Everyone Worked Only Four Hours Per Day? 142: Why Are Some Nations Wealthier Than Others? 282: Is GDP the Best Measure of Happiness and Well-Being? 300: Ray Dalio and the Changing World Order See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.