In this book, two internationally recognized experts in public finance tackle a new way to restore the economic vitality and financial stability of nations, using steps that have proved to be remarkably successful.
The book focuses on unleashing the social, human and economic wealth that nations already possess but are hidden or not visible to many people. Focusing on the public wealth of nations helps shift attention and resources from short-term spending to long-term investments that can significantly increase the quality of life for many generations of urban dwellers. If the infrastructure is dilapidated, poorly functioning and social services are inadequate in a country, the solution is not only to provide spending budgets but also to look for unseen or hidden wealth. The first critical step is to understand the country’s general balance sheet. Few countries realize how important this work tool can be. However, taxpayers, politicians and investors can better understand the long-term consequences of political decisions, and make choices that mobilize real interests instead of relying on more taxes, debt or austerity. The book then focuses on an undisclosed wealth, which is real estate. Even poor countries have unused, vast areas of land, or control poorly functioning facilities. So the authors argue that most countries can double their investments with smarter use of these assets.