Tag Archives: wealth

An Embarrassment of Riches

The Queen successfully lobbied the government to change a draft law in order to conceal her “embarrassing” private wealth from the public.

photo of Queen Elizabeth

Counting Wealth

photo of money behind man's back

In assessing where the money is, the people who run governments have been trying to obscure the source of wealth, e.g., tax havens. If you care to read the details, you may. A fair chunk of the article’s abstract is below.

We associate the universe of traded securities with their issuer’s ultimate parent and restate bilateral investment positions to better reflect the true financial linkages connecting countries around the world. We find that private capital flows from developed countries to firms in large emerging markets are dramatically larger than previously thought. The national accounts of the United States, for example, understate the U.S. position in Chinese firms by nearly $600 billion, while China’s official net creditor position to the rest of the world may be overstated by as much as 50 percent.