{"title":"National Wealth as an Economic Category","authors":"Nato Chikviladze Nato Chikviladze","doi":"10.36962/ecs105/3-4/2023-74","DOIUrl":null,"url":null,"abstract":"National wealth is one of the most general economic categories and an integral indicator for assessing and comparing the economic potential and capabilities of different countries. The calculation of such important macroeconomic quantities is based on the system of national accounts. In the economic literature, the term wealth refers to the sum of certain elements. In the economic literature, the term \"wealth\" refers to the sum of certain elements. In this sense, \"wealth\" is the object of economic science and statistical research. Country, nation, people, social wealth - these categories emerged with the formation of economic science. The first mention of the category \"national wealth\" in foreign literature is associated with the works of the classical economist W. Petty. In his search for the source of wealth, the author quantified the economic events of his time. In 1664 the scholar calculated the national wealth of England. \n Two concepts have emerged: national wealth is regarded as a certain fund held by a country in a certain period of time, or as recurrent income, a certain flow of products processed and used by the state, of the country over a certain period of time. The second concept dominated 19th century science. In our view, the definition of national wealth as a certain flow over a certain period of time is more characteristic of the concept of national income or gross product. For a scientifically sound and legitimate characterization of the concept of national wealth it is necessary to combine these two approaches. Only from the middle of the 20th century onwards. National wealth is identified with the accumulated stock of tangible and intangible assets. All elements of national wealth have a material composition, i.e. represent the material wealth of society. But on the wave of scientific and technological progress, information played a big role, in the mid-twentieth century the economy transformed from industrial to neo-industrial, and intangible elements were included in national wealth: human capital and information. If we compare countries by the level of national wealth, it is known that natural resources prevail in the structure of national wealth of low-income countries, and human potential prevails in high-income ones. In order to achieve a certain level of socio-economic well-being, most researchers believe that forms of international division of labor and organization are necessary to enable less developed countries to change the proportions of national wealth. and increase the proportion of human potential.\nKeywords: Wealth, national wealth, national wealth as an economic category.","PeriodicalId":47220,"journal":{"name":"Economics & Politics","volume":"1 1","pages":""},"PeriodicalIF":1.5000,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics & Politics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.36962/ecs105/3-4/2023-74","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
National wealth is one of the most general economic categories and an integral indicator for assessing and comparing the economic potential and capabilities of different countries. The calculation of such important macroeconomic quantities is based on the system of national accounts. In the economic literature, the term wealth refers to the sum of certain elements. In the economic literature, the term "wealth" refers to the sum of certain elements. In this sense, "wealth" is the object of economic science and statistical research. Country, nation, people, social wealth - these categories emerged with the formation of economic science. The first mention of the category "national wealth" in foreign literature is associated with the works of the classical economist W. Petty. In his search for the source of wealth, the author quantified the economic events of his time. In 1664 the scholar calculated the national wealth of England.
Two concepts have emerged: national wealth is regarded as a certain fund held by a country in a certain period of time, or as recurrent income, a certain flow of products processed and used by the state, of the country over a certain period of time. The second concept dominated 19th century science. In our view, the definition of national wealth as a certain flow over a certain period of time is more characteristic of the concept of national income or gross product. For a scientifically sound and legitimate characterization of the concept of national wealth it is necessary to combine these two approaches. Only from the middle of the 20th century onwards. National wealth is identified with the accumulated stock of tangible and intangible assets. All elements of national wealth have a material composition, i.e. represent the material wealth of society. But on the wave of scientific and technological progress, information played a big role, in the mid-twentieth century the economy transformed from industrial to neo-industrial, and intangible elements were included in national wealth: human capital and information. If we compare countries by the level of national wealth, it is known that natural resources prevail in the structure of national wealth of low-income countries, and human potential prevails in high-income ones. In order to achieve a certain level of socio-economic well-being, most researchers believe that forms of international division of labor and organization are necessary to enable less developed countries to change the proportions of national wealth. and increase the proportion of human potential.
Keywords: Wealth, national wealth, national wealth as an economic category.
期刊介绍:
Economics & Politics focuses on analytical political economy, broadly defined as the study of economic and political phenomena and policy in models that include political processes, institutions and markets. The journal is the source for innovative theoretical and empirical work on the intersection of politics and economics, at both domestic and international levels, and aims to promote new approaches on how these forces interact to affect political outcomes and policy choices, economic performance and societal welfare. Economics & Politics is a vital source of information for economists, academics and students, providing: - Analytical political economics - International scholarship - Accessible & thought-provoking articles - Creative inter-disciplinary analysis