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JOHN A. DIXON and KIRK HAMILTON

, is an Environmental Economist in the Indicators and Environmental Valuation Unit in the Environment Department of the World Bank’s Vice Presidency for Environmentally Sustainable Development . The wealth accountant’s toolkit Measuring the total wealth of a country necessarily involves some heroic assumptions. The first choice a wealth accountant confronts is the discount rate: a social rate of 4 percent per annum is used throughout the measurements the World Bank makes in Monitoring Environmental Progress: Expanding the Measure of Wealth . Total wealth is

International Monetary Fund. External Relations Dept.
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