You’re probably richer than you think because of the safety net – but you’d have more of that hidden wealth if you lived in Norway

By Robert Manduca, Assistant Professor of Sociology, University of Michigan

How wealthy are you?

Like most people, you probably would do some math before answering this question. You would add up the money in your bank accounts, the value of your investments and any equity in a home you own, then subtract your debts, such as mortgages and car loans.

But many economists believe this approach, known as calculating your net worth, leaves out a big chunk of your wealth: the benefits you’ll get in the future from Social Security, if you live in the United States, or similar…

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