Seal of Polytechnic University of the Philippines with a stylized pagoda above an open book, encircled by the name and motto in Latin.

Theory of Wealth

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Cover page of a report titled 'Ownership Project Insights, No. 3' with logos of University of Oxford Said Business School, Regeneration Group, and Skoll Centre at the top. The subtitle reads 'Beyond the Preserve and Grow Paradigm: Developing a Theory of Wealth' and authors listed as Dr. Bridget Kustin, Paul Ziesche, and Sid Efromovich. Contains images of water droplets falling into water and acorns on a branch with green leaves.

Bridget Kustin, Sid Efromovich, and Paul Ziesche. "Beyond the Preserve and Grow Paradigm: Developing a Theory of Wealth,” Ownership Project Insights, No. 3. Saïd Business School, University of Oxford,  2025.

This white paper explores the surprising uniformity in approach to wealth management that otherwise very diverse wealth-holders and wealth-holding families adopt. Drawing on insights from the social sciences, we examine how wealth accumulation frequently becomes an unquestioned default rather than a consciously chosen strategy. We introduce the concept of "Theory of Wealth"—a framework linking wealth, both liquid and illiquid, to clearly defined goals and intended impacts in the world. The paper offers practical tools and reflective questions to help wealth-holders align their assets, values, and actions more intentionally.

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