ABSTRACT
This chapter provides an overview of the rationale underlying the claim that – from an intergenerational welfare perspective – linking resource allocation policies to changes in wealth is more appropriate than linking resource allocation policies to changes in gross domestic product. It also provides an overview of the basis for wealth estimation and explores how various types of conservation and development policies recognizing the tradeoff can be understood better with the help of inclusive wealth. The chapter examines the wealth concept closer to national level policies on selected conservation goals and targets, and shows its comparative advantage over others. It explores some of the advantages of estimating wealth in the context of Sustainable Development Goals of the United Nations endorsed in 2015. The chapter discusses the lessons learned including caveats and limitations of wealth in formulating policies of conservation and development at various levels of decision-making units.
