Wealth is the abundance of valuable resources or material possessions. The word wealth is derived from the old English weal, which is from an Indo-European word stem. An individual, community, region or country that possesses an abundance of such possessions or resources is known as wealthy.
The concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics yet the meaning of wealth is context-dependent. At the most general level, economists may define wealth as "anything of value" which captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various individuals and in different contexts. Defining wealth can be a normative process with various ethical implications, since often wealth maximization is seen as a goal or is thought to be a normative principle of its own.
The United Nations definition of inclusive wealth is a monetary measure which includes the sum of natural, human and physical assets. Natural capital includes land, forests, fossil fuels, and minerals. Human capital is the population's education and skills. Physical (or "manufactured") capital includes such things as machinery, buildings, and infrastructure.
Other articles related to "wealth":
... usually hold “low-level jobs in companies, often attaining personal stability but not wealth or prominent position.” Some of Alger’s novels assert that material wealth is insignificant unless ... For Alger’s characters, wealth was the product of a meritocracy, and the direct consequence of “honesty, thrift, self-reliance, industry, a cheerful whistle and ...
... Richard Thornton's wealth was remarkable ... today, even though in his lifetime his wealth rivalled that of the Rothschilds and the Barings ...
... or Neutral Portfolio Acquisitiveness, status, wealth Domains Dragon, Protection, Wealth (Cavern and Metal) Superior Io Design details In the Dungeons Dragons role-playing game, Astilabor (As ...
... (Crédit Suisse Global wealth report) ... In 2010, among the top 1% of global wealth holders, 4,045 are French ...
Famous quotes containing the word wealth:
“Ill fares the land, to hastening ills a prey,
Where wealth accumulates, and men decay:
Princes and lords may flourish, or may fade;
A breath can make them, as a breath has made;
But a bold peasantry, their countrys pride,
When once destroyed, can never be supplied.”
—Oliver Goldsmith (1730?1774)
“Science, which cuts its way through the muddy pond of daily life without mingling with it, casts its wealth to right and left, but the puny boatmen do not know how to fish for it.”
—Alexander Herzen (18121870)
“Books are the treasured wealth of the world and the fit inheritance of generations and nations.”
—Henry David Thoreau (18171862)