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What is wealth

Posted by phantomelen • 13 days ago • Subscribe to this Discussion [RSS] • Report This Topic
Topics: money, wealth

What is wealth? Is it just about money or does it have a deeper meaning to you?
Open up your hearts and minds to the people around you and be honest when you answer this question.Dig deep people and lets find the real meaning of wealth.

User Comments

13 days ago

FredSr2009

We all need a certain amount of food and resources to survive on, whatever is extra or above that is wealth.

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13 days ago

DaneMorgan

Wealth is possession of the resources that enable creation and production. The resources and the creations involved may or may not be physical or material in nature.

Thus wealth could be the land that enables one to produce grain, the infrastructure that enables one to produce furniture, the knowledge that enables one to produce a book or even the love that enables one to produce a happy home.

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13 days ago

freshtunesfinland

This is a typical economics answer, so bear with me.

I believe that the measurement of wealth in monetary measures, such as GDP, is fundamentally flawed since it is bound to be lacking in dimensions and perspectives. What I think is great is the initiative they have taken in France, to develop a new measure to indicate the wealth of a nation, to complement the GDP and give a better indication of wealth. It measures monetary terms, as well as softer values such as education, population health and leisure time. For more on that subject,
www.time.com/time/business/article/0,8599,1923330,00.html

So in my opinion, wealth is monetary, but not only monetary, but also the combination of other values that bring value to every day life, such as happiness, health, education and so on. As an economist, I think the measure of wealth in monetary terms is the most simple way of measuring it, but that just means that we haven't developed a better system yet. And it should also be noted that fundamentally, it's like measuring intelligence, it's always a comparison and not a simple interpretation, and should be treated more like an indication, than an actual "answer".

Ta ta.

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13 days ago

owlbarn

Wealth is luxury.

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12 days ago

phantomelen

ok so define luxury, is it all about things? Or can it include other aspects of our lives?

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