The Wealth of Kindersley and West Central Saskatchewan

Hi Everyone:

What is the wealth of Kindersley and West Central Saskatchewan and how can we measure it?

One of my favourite books (and authors) is Adam Smith's The Wealth of Nations. Smith, an ethicist, ably described a complex system of business arrangements being developed in what is now the United Kingdom and Europe. I think it is reasonable to say that when it came to the creation and understanding of wealth, Smith was trying to understand how everything related as a whole. The result was a comprehensive effort to understand what wealth is and what causes it.

I am not going to pretend to know all the answers but I do think we can come to an understanding of wealth and how to continue accumulating and investing for sustained wealth creation in Kindersley and West Central Saskatchewan.

Our area has three types of wealth:

·         Manufactured Capital - including buildings, machinery, infrastructure, etc.

Manufactured Capital, September 24, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

·         Human Capital - our population and education

Human Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

·         Natural Capital - agriculture, water, oil and gas (wind is not included because it is not consistent enough for power generation.) The pump Jack is a symbol of natural capital and manufactured capital.

 

 

 

 

 

 

 

 

 

 

 

Of these three types of wealth, I tend to think our most important is human capital – our people. Manufactured capital is renewable and dependent upon the growth and utilization of our human and natural capital. Unfortunately, our natural capital, with the exception of agriculture, is being depleted, though we have no definite time line as to when it will run out.

Here is my question: Can we not treat wealth creation similarly to asset management? As natural resources are extracted, we should be investing in our human capital, including the necessary manufactured capital, equal to the natural capital being depleted or utilized, preferably more. Is this the case for Kindersley and West Central Saskatchewan? For Saskatchewan? For Canada?

Our goal is to increase wealth by investing in human capital so that it increases the wealth of our area. For this to be successful, we need to consider investment in our manufactured capital that enhances our human capital, in conjunction with direct investment in human capital.

Saskatchewan is enjoying a sustained period of economic growth based, primarily, on our natural capital. However, as the province grows, investment into manufactured and human capital needs to be diversified and inclusive so that all of Saskatchewan can see our 'wealth' grow. The return on investment in our natural capital ought to be seen in an increase in our manufactured and human capital.

We must invest wisely, and as we do, we will continue our sustainability but, most importantly, our vibrancy as a community and as a region.

Please write or phone if you would like me to discuss a particular topic. If you have any questions or comments, drop me a line at the town office or email me at mayorenns-wind@kindersley.ca. You can also check out my blog at http://mayorjohn.blogspot.ca/. I appreciate your feedback.

Have a good week!