A Proclamation: Comprehensive Wealth Comes to 1472 Olive Street

Dear Family,

Today it begins. Comprehensive Wealth will now be adopted as the basis for progress measurement and resource planning for the Republic of 1472 Olive Street. Why? Because we need to do better when it comes to evaluating the well-being of our family, today and well into the future.

Focusing only on what we earn as a measure of how we’re doing isn’t the best model for a healthy family. Looking at our Comprehensive Wealth will allow us to create a more sustainable and prosperous 1472 Olive Street. We’ll do this by considering factors other than the money coming into and (mostly) out of our ever-fluctuating bank accounts.

From now on, we’ll be valuing our produced capital, such as our lovely, two-storey suburban home and we’ll also be measuring our natural, social and human capital. All this together makes up our Comprehensive Wealth. No need to Google it, I’ll explain.

Thanks to a lush backyard and fabulous fruit trees, 1472 Olive Street enjoys a high level of natural capital. Just consider the worth of these assets. Not only do they help purify the air we breathe but they double as places where you kids can run wild.

The collective knowledge, skills and capability of the residents of 1472 Olive Street make up its human capital. In our republic of four, half of the citizens are employed (aka “the parents”). We work hard to support the development of our remaining human capital (aka “you kids”), building their capacities through school, piano lessons, science camp and yoga for tweens.

Further bolstering our Comprehensive Wealth balance sheet, we also have very strong social capital. Our governance is good, despite what our younger citizens may believe about curfew policies. Our social networks, such as the “Parental Transportation Co-op” and “Friends That Fix Stuff, “ are strong, as are our cultural institutions, including the “Fridge Door Art Gallery”, “Funtime with Chores Collective” and “Bedtime Theatre”.

So, you ask, why start using Comprehensive Wealth now. Haven’t we done OK just making sure there’s enough money in the bank? Well, if we neglect even one of the elements of Comprehensive Wealth and define our success only by measuring our income, our world — the world you will inherit — simply won’t be sustainable. And we’re pretty invested in having grandchildren. No rush, just thought you should know.

So, the Republic of 1472 Olive Street has decided it’s time to measure what matters for a sustainable and prosperous future. Time for you kids to get on board the Comprehensive Wealth train. I’m looking out for our wellbeing. You can thank me later.

Sincerely,

Mom
President of the Republic of 1472 Olive Street