Margins
Public Net Worth book cover
Public Net Worth
Accounting – Government - Democracy
2024
First Published
4.00
Average Rating
368
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As individuals, we depend on the services that governments provide. Collectively, we look to them to tackle the big problems - from long-term climate and demographic change to short-term crises like pandemics or war. Funding this activity, and managing the required finances sustainably, is difficult – and getting more so. But governments don't provide – or use – basic financial information that every business is required to maintain. They ignore the value of public assets and most liabilities. This leads to inefficiency and bad decision-making and piles up problems for the future. Governments need to create balance sheets that properly reflect assets and liabilities, and to understand their future obligations and revenue prospects. Net Worth – both today and for the future – should be the measure of financial strength and success. Only if this information is put at the centre of government financial decision-making can the present challenges to public finances around the world be addressed effectively, and in a way that is fair to future generations. The good news is that there are ways to deal with these problems and make government finances more resilient and fairer to future generations. The facts, and the solutions, are non-partisan, and so is this book. Responsible leaders of any political persuasion need to understand the issues and the tools that can enable them to deliver policy within these constraints.
Avg Rating
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Authors

Jacob Soll
Jacob Soll
Author · 5 books

Jacob Soll is professor of history and accounting at the University of Southern California. He received a B.A. from the University of Iowa, a D.E.A. from the École des Hautes Études en Sciences Sociales in Paris, France, and a Ph.D. from Magdalene College, Cambridge University. He has been awarded numerous prestigious prizes including two NEH Fellowships, the Jacques Barzun Prize, a Guggenheim Fellowship, and, in 2011, the MacArthur Fellowship. Soll’s first book, "Publishing The Prince" (2005), examines how Machiavelli's work was popularized and influenced modern political thought. It won the Jacques Barzun Prize from the American Philosophical Society. In his second book, The Information Master (2009), Soll investigates how Louis XIV's famous finance minister Jean-Baptiste Colbert fused financial management and library sciences to create one of the first modern information states. His most recent book, The Reckoning: Financial Accountability and the Rise and Fall of Nations (2014), presents a sweeping history of accounting and politics, drawing on a wealth of examples from over a millennia of human history to reveal how accounting can used to both build kingdoms, empires and entire civilizations, but also to undermine them. It explains the origins of our own financial crisis as deeply rooted in a long disconnect between human beings and their attempts to manage financial numbers. The Reckoning, reviewed in major newspapers and publications around the world, has sold more than 60,000 copies worldwide, and has been translated into five languages. His new books include Free Market: The History of a Dream (Basic Books), an analysis of classical philosophy, natural law, history and contemporary economic culture; a history of libraries and Enlightenment (Yale University Press); and the first English edition of Jean-Baptiste Colbert’s economic writings (Anthem). Soll has been a correspondent for the Boston Globe, and a regular contributor to the New York Times, Politico, the New Republic, PBS, Salon.com and the Chronicle of Higher Education. Soll is currently meeting with political and financial leaders across the globe to promote accounting standards and financial transparency. Recent journal and chapter publications include: • “Jean Baptiste Colbert: Accounting and the Genesis of a State Archive in Early Modern France,” Proceedings of the British Society, forthcoming 2017. • “From Virtue to Surplus: Jacques Necker’s Compte Rendu (1781) and the Origins of Modern Political Discourse,” Representations 134 (216), pp. 29-63. • “The Grafton Method, or the Science of Tradition,” in Ann Blair and Anja-Silvia Goeing, eds., For the Sake of Learning: Essays in Honor of Anthony Grafton, 2 vols. (Leiden: Brill, 2016), 2, pp. 1019-1032. • “Intellectual History and the History of the Book,” in Richard Whatmore and Brian Young, eds. A Companion to Intellectual History, (Chichester: John Wiley And Sons/Blackwell, 2016), pp. 72-82.

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