The Public Wealth of Nations How Management of Public Assets Can Boo
We have spent the last three decades engaged in a pointless and irrelevant debate about the relative merits of privatization or nationalization. We have been arguing about the wrong thing while sitting on a goldmine of assets. Don’t worry about who owns t
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At a time of mistrust in traditional politics and weak public finances, Dag Detter and Stefan Fölster show politicians the way to demonstrate they are on the side of the people and to manage government assets better. There should be no excuse for those in power to dismiss these ideas. Chris Giles, Economics Editor, Financial Times
The Public Wealth of Nations is a very timely reminder of the importance of fiscal transparency and accountability for the sound management of public finances through the often neglected asset side of a government’s balance sheet. A very readable and passionate case for governments to focus on their public wealth while taking a long-term view of the implications of their fiscal policies. Marco Cangiano, Assistant Director at the IMF Fiscal Affairs Department and co-editor of Public Financial Management and Its Emerging Architecture
The Public Wealth of Nations asks what can be gained by applying lessons from the private sector to the management of public assets. A lot, as it turns out. Many countries continue to ignore the economic return on public assets and focus instead on policy goals of government ownership, or get tangled up in privatization debates. Unsurprisingly, government finances suffer. Using examples from countries such as Sweden and Singapore, the authors show how countries can unlock economic returns, and how government and economic development can benefit. Policy makers and government managers from across the political and development spectrum can learn from this book how the management of assets can truly be in the public interest: by placing financial performance side-by-side with policy objectives. Jim Brumby, Director Governance Global Practice, World Bank
With public finances under pressure in many countries due to a combination of structurally slower growth and high levels of indebtedness, The Public Wealth of Nations couldn’t be better timed. It is a welcome reminder that the analysis of public finance has hitherto been too narrow, exclusively focusing on debt and its funding costs. In this important book, the authors convincingly
10.1057/9781137519863 - The Public Wealth of Nations, Dag Detter and Stefan Fölster
Copyright material from www.palgraveconnect.com - licensed to Stockholm University Library - PalgraveConnect - 2015-10-20
Public wealth is vast, but largely overlooked as an asset class. Improving its management is one of the most important economic issues of our time. Dag Detter and Stefan Fölster shed much light on the subject. One can only hope that their book will kickstart a debate that ushers in better stewardship of sta
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