The Public Wealth of Nations
How Management of Public Assets Can Boost or Bust Economic Growth
This book shows that public wealth is vast and could be put to much better use.
Most countries’ public wealth is larger than their public debt. While managing debt has become a matter of great concern during the financial crisis, public wealth remains opaque and largely ignored.
The polarized debate between privatizers and nationalizers has missed the most important point – the quality of asset management.
According to our calculations an achievable improvement in public wealth management would yield returns greater than the world’s combined investment in infrastructure such as transport, power, water and communications.
This book explores how some countries are experimenting with institutional setups, such as National Wealth Funds that achieve sounder management and cleaner democracy.
The book is authored by Dag Detter and Stefan Fölster. Dag Detter is Chairman of Detter & Co and former President of Stattum, the Swedish government holding company. Stefan Fölster is Director of the Reform Institute and Associate Professor at the Royal Institute of Technology, in Stockholm.