National wealth as an economic category: evolution of scientific representations

Tyumen State University Herald. Social, Economic, and Law Research

Release:

Vesntik TSU. Economy (#11). 2013

Title:

National wealth as an economic category: evolution of scientific representations

Authors: Agnessa N. Zaitseva, Andrey V. Prikhodko

About the authors:

Agnessa N. Zaitseva,

Dr. Econ. Sci., Professor, Economic Theory and Applied Economics Department, Institute for Finance and Economics, Tyumen State University

Andrey V. Prikhodko,

post-graduate student, Institute for Finance and Economics, Tyumen State University

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Abstract:

The study of national wealth and factors critical for national wealth growth is one of the central problems in economics. The successful solution of these problems is a necessary prerequisite for stable development of any country. The accumulated wealth is closely linked with economic development and components of the accumulated wealth serve as key factors of economic growth. For a very long time the essence of national wealth as an economic category had been found to be controversial despite the numerous economic discussions. At a later stage, however, economists came to understand more comprehensively the laws and forms of accumulation and distribution and managed to develop a scientific doctrine of national wealth. The present-day theory of national wealth makes a deep insight into the mechanisms of capital accumulation and includes three interrelated constituents: human capital, natural capital and reproductive capital. The new approaches to measuring national wealth take into account a broad range of theoretical and methodological issues, such as sources and essential components of national wealth, mechanisms of reproduction and accumulation of intangible assets to stimulate national wealth growth and improved methodology for an adequate evaluation of wealth and its components.

Keywords:

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