Although they are neighbours in Edmonton, Mark Anielski, an advocate for determining and measuring genuine wealth, and author of the Economics of Happiness (before Happiness became trendy) does not have the same access to Premier Rachel Notley that he used to have. NewScoop asked him to offer three suggestions to the Premier as Alberta stumbles through the landscape $40 oil.
Hi first suggestion was to deliver a provincial balance sheet to the bond rating agencies that have downgraded Alberta’s Credit rating. This balance sheet should include five kinds of capital including the familiar, financial capital: financial assets, financial liabilities and shareholder equity. He also recommends including in the balance sheet and assessment of natural capital, social capital, built capital and human capital. Anielski believes this provides a much more accurate picture of our provincial wealth.
Secondly he suggests creating an economic vision for the province, rather than just being reactive. What kind of economy do we want for Alberta?
Anielski suggests that Alberta has an under utilized resource in ATB – $43 billion in assets and the Alberta Investment Management Corp. – $83.9 billion in assets. He advocates using this public bank owned by Albertans to kick-start the economy by investing in projects identified as part of the economic vision, perhaps renewable energy or affordable housing.
We recommend a visit to Mark’s website, Genuine Wealth to learn more about his ideas.