An economy's wealth is the social worth of its assets, comprising produced capital (roads, buildings, machines), human capital (health, education, aptitudes) and natural capital (ecosystems, subsoil resources). Wellbeing across the generations (our ends) and wealth (the social worth of the means to those ends) are two sides of the same coin: A change in an economy that increases/decreases wellbeing across the generations also increases/decreases the economy's wealth. A much-neglected component of wealth in economic thinking is natural capital. There is strong evidence that relative to their population growth, the accumulation of produced capital and human capital in large numbers of countries in recent years has not compensated for the decumulation of their stocks of natural capital, implying that wealth per capita has declined there. Underpricing of natural capital has been the cause of that decumulation. Implications of this for our economic prospects are drawn.