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Encyclopedia > Wealth

Wealth from the old English word "weal", which means "well-being" or "welfare". The term was originally an adjective to describe the possession of such qualities. Image File history File links Broom_icon. ... Image File history File links Question_book-3. ... In economics wealth of a person or nation is the value of assets owned minus the value of liabilities owed (to foreigners in the case of a nation) at a point in time. ... This article is about the economic and philosophical concept. ...


"Wealth" has come to mean an abundance of items of economic value, or the state of controlling or possessing such items, and encompasses money, real estate and personal property. In many countries wealth is also measured by reference to access to essential services such as health care, or the possession of crops and livestock. An individual who is wealthy, affluent, or rich is someone who has accumulated substantial wealth relative to others in their society or reference group. In economics, wealth refers to the value of assets owned minus the value of liabilities owed at a point in time. In general, the economic value of something is how much a product or service is worth to someone relative to other things (often measured in money). ... For other uses, see Money (disambiguation). ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... // Use of the term The concept of property or ownership has no single or universally accepted definition. ... A physician visiting the sick in a hospital. ... For other uses, see crop (disambiguation). ... Sheep are commonly bred as livestock. ... In economics wealth of a person or nation is the value of assets owned minus the value of liabilities owed (to foreigners in the case of a nation) at a point in time. ... In business and accounting an asset is anything owned, whether in possession or by right to take possession, by a person or a group acting together, e. ... In the most general sense, a liability is anything that is a hindrance, or puts individuals at a disadvantage. ...


'Wealth' refers to some accumulation of resources, whether abundant or not. 'Richness' refers to an abundance of such resources. A wealthy (or rich) individual, community, or nation thus has more resources than a poor one. Richness can also refer at least basic needs being met with abundance widely shared. The opposite of wealth is destitution. The opposite of richness is poverty. A boy from an East Cipinang trash dump slum in Jakarta, Indonesia shows what he found. ...


The term implies a social contract on establishing and maintaining ownership in relation to such items which can be invoked with little or no effort and expense on the part of the owner (see means of protection). John Lockes writings on the Social Contract were particularly influential among the American Founding Fathers. ... This article does not cite any references or sources. ... A means of protection is some contract or guarantee of security for body or property. ...


The concept of wealth is relative and not only varies between societies, but will often vary between different sections or regions in the same society. A personal net worth of US $1 000 000 in most parts of the United States would certainly place a person among the wealthiest citizens. However, such amounts would constitute an extraordinary amount of wealth in impoverished developing countries. Net worth (sometimes net assets) is the total assets minus total liabilities of an individual or company. ...  Newly industrialized countries  Other emerging markets  Other developing economies  High income  Upper-middle income  Lower-middle income  Low income A developing country is that country which has a relatively low standard of living, an undeveloped industrial base, and a moderate to low Human Development Index (HDI) score and per capita...


The wealth of a country can be measured by its GDP per capita. See List of countries by GDP (PPP) per capita. This article includes two lists of countries of the world[1] sorted by their gross domestic product (GDP) at purchasing power parity (PPP) per capita, the value of all final goods and services produced within a nation in a given year divided by the average population for the same year. ...

Contents

Anthropological views of wealth

Anthropology characterizes societies, in part, based on a society's concept of wealth, and the institutional structures and power used to protect this wealth.[citation needed] Several types are defined below. They can be viewed as an evolutionary progression. Many young adolescents have become wealthy from the inheritance of their families. This is about the social science. ... Much of the recent sociological debate on power revolves around the issue of the constraining and/or enabling nature of power. ...


The interpersonal concept of wealth

Early hominids seem to have started with incipient ideas of wealth[citation needed], similar to that of the great apes. But as tools, clothing, and other mobile infrastructural capital became important to survival (especially in hostile biomes), ideas such as the inheritance of wealth, political positions, leadership, and ability to control group movements (to perhaps reinforce such power) emerged. Neandertal societies had pooled funerary rites and cave painting which implies at least a notion of shared assets that could be spent for social purposes, or preserved for social purposes. Wealth may have been collective. Genera The hominids are the members of the biological family Hominidae (the great apes), which includes humans, chimpanzees, gorillas, and orangutans. ... Genera Subfamily Ponginae Pongo - Orangutans Gigantopithecus (extinct) Sivapithecus (extinct) Subfamily Homininae Gorilla - Gorillas Pan - Chimpanzees Homo - Humans Paranthropus (extinct) Australopithecus (extinct) Sahelanthropus (extinct) Ardipithecus (extinct) Kenyanthropus (extinct) Pierolapithecus (extinct) (tentative) The Hominids (Hominidae) are a biological family which includes humans, extinct species of humanlike creatures and the other great apes... A baby wearing many items of winter clothing: headband, cap, fur-lined coat, shawl and sweater. ... Infrastructural capital refers to any physical means of production or means of protection beyond that which can be gathered or found directly in nature, i. ... A biome is a climate and geographical area of ecologically similar communities of plants, animals, and soil organisms, often referred to as ecosystems. ... This article or section does not adequately cite its references or sources. ... Leader redirects here. ... Binomial name Homo neanderthalensis King, 1864 The Neanderthal or Neandertal was a species of genus Homo (Homo neanderthalensis) that inhabited Europe and parts of western Asia from about 230,000 to 29,000 years ago (in the Middle Palaeolithic, early Stone Age). ... Underwater funeral in Twenty Thousand Leagues Under the Sea A funeral is a ceremony marking a persons death. ... Cave or Rock Paintings are paintings on cave or rock walls and ceilings, usually dating to prehistoric times. ...


Wealth as the accumulation of non-necessities

Humans back to and including the Cro-Magnons seem to have had clearly defined rulers and status hierarchies. Digs in Russia have revealed elaborate funeral clothing on a pair of children buried there over 35,000 years ago.[citation needed] This indicates a considerable accumulation of wealth by some individuals or families. The high artisan skill also suggest the capacity to direct specialized labor to tasks that are not of any obvious utility to the group's survival. This article is about modern humans. ... For the avant garde collective, see Cromagnon (band). ... For referencing in Wikipedia, see Wikipedia:Citing sources. ... An artisan, also called a craftsman,[1] is a skilled manual worker who uses tools and machinery in a particular craft. ... Division of labour is the breakdown of labour into specific, circumscribed tasks for maximum efficiency of output, particularly in the context of manufacturing. ...


Wealth as control of arable land

The rise of irrigation and urbanization, especially in ancient Sumer and later Egypt, unified the ideas of wealth and control of land and agriculture.[citation needed] To feed a large stable population, it was possible and necessary to achieve universal cultivation and city-state protection. The notion of the state and the notion of war are said to have emerged at this time. Tribal cultures were formalized into what we would call feudal systems, and many rights and obligations were assumed by the monarchy and related aristocracy. Protection of infrastructural capital built up over generations became critical: city walls, irrigation systems, sewage systems, aqueducts, buildings, all impossible to replace within a single generation, and thus a matter of social survival to maintain. The social capital of entire societies was often defined in terms of its relation to infrastructural capital (e.g. castles or forts or an allied monastery, cathedral or temple), and natural capital, (i.e. the land that supplied locally grown food). Agricultural economics continues these traditions in the analyses of modern agricultural policy and related ideas of wealth, e.g. the ark of taste model of agricultural wealth. Irrigation is the artificial application of water to the soil usually for assisting in growing crops. ... Sumer (or Å umer; Sumerian: KI-EN-GIR [1]) was the earliest known civilization of the ancient Near East, located in lower Mesopotamia (modern Iraq), from the time of the earliest records in the mid 4th millennium BC until the rise of Babylonia in the late 3rd millennium BC. The term... This article does not cite any references or sources. ... Tillage (American English), or cultivation (UK) is the agricultural preparation of the soil to receive seeds. ... A city-state is a region controlled exclusively by a city. ... For other uses, see State (disambiguation). ... For other uses, see War (disambiguation). ... For the documentary series, see Monarchy (TV series). ... Aristocrat redirects here. ... Infrastructural capital refers to any physical means of production or means of protection beyond that which can be gathered or found directly in nature, i. ... The defensive wall of Braşov, Romania. ... Irrigating cotton fields Irrigation in the Heart of the Sahara Irrigation (in agriculture) is the replacement or supplementation of rainfall with water from another source in order to grow crops. ... Urban areas require some method for collection and disposal of sewage. ... For other uses, see Aqueduct (disambiguation). ... Old Executive Office Building, Washington D.C. Bank of China Tower, Hong Kong, China In architecture, construction, engineering and real estate development the word building may refer to one of the following: Any man-made structure used or intended for supporting or sheltering any use or continuous occupancy, or An... Social capital, referring to connections within and between social networks, is a core concept in business, economics, organisational behaviour, political science, public health, and sociology. ... Infrastructural capital refers to any physical means of production or means of protection beyond that which can be gathered or found directly in nature, i. ... For other uses, see Castle (disambiguation). ... Fortifications (Latin fortis, strong, and facere, to make) are military constructions designed for defensive warfare. ... This article concerns the buildings occupied by monastics. ... For other uses, see Cathedral (disambiguation). ... Temple of Hephaestus, an Doric Greek temple in Athens with the original entrance facing east, 449 BC (western face depicted) For other uses, see Temple (disambiguation). ... Natural capital, as described in the book Natural Capitalism, is a metaphor for the mineral, plant, and animal formations of the Earths biosphere when viewed as a means of production of oxygen, water filter, erosion preventer, or provider of other ecosystem services. ... Loess field in Germany Surface-water-gley developed in glacial till, Northern Ireland For the American hard rock band, see SOiL. For the System of a Down song, see Soil (song). ... Agricultural economics originally applied the principles of economics to the production of crops and livestock - a discipline known as agronomics. ... This article needs to be cleaned up to conform to a higher standard of quality. ...


The capitalist notion of wealth

Banknotes from all around the world donated by visitors to the British Museum, London.
Banknotes from all around the world donated by visitors to the British Museum, London.

Industrialization emphasized the role of technology. Many jobs were automated. Machines replaced some workers while other workers became more specialized. Labour specialization became critical to economic success. However, physical capital, as it came to be known, consisting of both the natural capital (raw materials from nature) and the infrastructural capital (facilitating technology), became the focus of the analysis of wealth. Adam Smith saw wealth creation as the combination of materials, labour, land, and technology in such a way as to capture a profit (excess above the cost of production).[1] The theories of David Ricardo, John Locke, John Stuart Mill, and later, Karl Marx, in the 18th century and 19th century built on these views of wealth that we now call classical economics and Marxian economics (see labor theory of value). Marx distinguishes in the Grundrisse between material wealth and human wealth, defining human wealth as "wealth in human relations"; land and labour were the source of all material wealth. Image File history File linksMetadata Size of this preview: 800 × 600 pixelsFull resolution (2592 × 1944 pixel, file size: 1. ... Image File history File linksMetadata Size of this preview: 800 × 600 pixelsFull resolution (2592 × 1944 pixel, file size: 1. ... London museum | name = British Museum | image = British Museum from NE 2. ... Industrialisation (or industrialization) or an industrial revolution (in general, with lowercase letters) is a process of social and economic change whereby a human society is transformed from a pre-industrial to an industrial state . ... Division of labour is the breakdown of labour into specific, circumscribed tasks for maximum efficiency of output, particularly in the context of manufacturing. ... به خاطر اعمال تخریبی یک کاربر مشخص AOLØŒ ویکی‌پدیا معمولاً proxyهای AOL را می‌بندد. متأسفانه ممکن است تعداد زیادی از کاربران AOL از یک خادم proxy واحد استفاده کنند، Ùˆ در نتیجه کاربران بی‌تقصیر AOL معمولاً ندانسته بسته می‌شوند. از دردسر ایجاد شده عذر می‌خواهیم. اگر این اتفاق برای شما افتاد، لطفاً به یکی از مدیران از یک نشانی پست الکترونیک AOL پیغام بفرستید. حتماً نشانی IPÛŒ را در فوق داده شده ذکر کنید. بازگشت به صفحهٔ اصلی. گرفته شده از «http://fa. ... Natural capital, as described in the book Natural Capitalism, is a metaphor for the mineral, plant, and animal formations of the Earths biosphere when viewed as a means of production of oxygen, water filter, erosion preventer, or provider of other ecosystem services. ... Infrastructural capital refers to any physical means of production or means of protection beyond that which can be gathered or found directly in nature, i. ... For other persons named Adam Smith, see Adam Smith (disambiguation). ... David Ricardo (18 April 1772–11 September 1823), a political economist, is often credited with systematizing economics, and was one of the most influential of the classical economists, along with Thomas Malthus and Adam Smith. ... For other persons named John Locke, see John Locke (disambiguation). ... John Stuart Mill (20 May 1806 – 8 May 1873), British philosopher, political economist, civil servant and Member of Parliament, was an influential liberal thinker of the 19th century. ... Karl Heinrich Marx (May 5, 1818 – March 14, 1883) was a 19th century philosopher, political economist, and revolutionary. ... (17th century - 18th century - 19th century - more centuries) As a means of recording the passage of time, the 18th century refers to the century that lasted from 1701 through 1800. ... Alternative meaning: Nineteenth Century (periodical) (18th century — 19th century — 20th century — more centuries) As a means of recording the passage of time, the 19th century was that century which lasted from 1801-1900 in the sense of the Gregorian calendar. ... Classical economics is widely regarded as the first modern school of economic thought. ... Marxian economics refers to a body of economic thought stemming from the work of Karl Marx. ... The labor theories of value (LTV) are theories in economics according to which the true values of commodities are related to the labor needed to produce them. ...


Other concepts of wealth

Global wealth

Michel Foucault commented that the concept of Man as an aggregate did not exist before the 18th century. The shift from the analysis of an individual's wealth to the concept of an aggregation of all men is implied in the concepts of political economy and then economics. This transition took place as a result of a cultural bias inherent in the Enlightenment. Wealth was seen as an objective fact of living as a human being in a society. Michel Foucault (pronounced ) (October 15, 1926 – June 25, 1984) was a French philosopher, historian and sociologist. ... Photograph of a nude man by Wilhelm von Gloeden, ca. ... The Politics series Politics Portal This box:      Political economy was the original term for the study of production, the acts of buying and selling, and their relationships to laws, customs and government. ... Face-to-face trading interactions on the New York Stock Exchange trading floor. ... Cultural bias is the phenomenon of interpreting and judging phenomena by standards inherent to ones own culture. ... ...


Not a zero-sum game

Regardless of whether one defines wealth as the sum total of all currency, the M1 money supply, or a broader measure which includes money, securities, and property, the supply of wealth, while limited, is not fixed. Thus, there is room for people to gain wealth without taking from others, and wealth is not necessarily a zero-sum game, though short-term effects and some economic situations may make it appear to be so. Many things can affect the creation and destruction of wealth including size of the work force, production efficiency, available resource endowments, inventions, innovations, and availability of capital. In macroeconomics, money supply (monetary aggregates, money stock) is the quantity of currency and money in bank accounts in the hands of the non-bank public available within the economy to purchase goods, services, and securities. ... Zero-sum describes a situation in which a participants gain (or loss) is exactly balanced by the losses (or gains) of the other participant(s). ...


However, at any given point in time, there is a limited amount of wealth which exists. That is to say, it is fixed in the short term. People who study short term issues see wealth as a zero-sum game and concentrate on the distribution of wealth, whereas people who study long-term issues see wealth as a non-zero sum game and concentrate on wealth creation. Other people put equal emphasis on both the creation and the distribution of wealth. It has been theorized, for example, by Robert Wright, among others, that society becomes increasingly non-zero-sum as it becomes more complex, specialized, and interdependent. For the business meaning, see Wealth (economics). ... For the business meaning, see Wealth (economics). ...


One's attitude towards this issue affects the design of the social or economic system that one prefers. Social structure (also referred to as a social system) is a system in which people forming the society are organized by a patterns of prelationships. ... An economic system is a particular set of social institutions which deals with the production, distribution and consumption of goods and services in a particular society. ...


The non-normative concept of wealth

Neoclassical economics tries to be non-normative for the most part, to be objective and free of value statements. If it is successful, then wealth would be defined in such a way that it would not be preconceived to be either positive or negative. This objective has not always been the case. In prior eras wealth was assumed to be a set of means of persuasion. Neoclassical economics refers to a general approach (a metatheory) to economics based on supply and demand which depends on individuals (or any economic agent) operating rationally, each seeking to maximize their individual utility or profit by making choices based on available information. ... A means of persuasion, in some theories of politics and economics, can substitute for a factor of production by providing some influence or information. ...


It was often seen as self-interested arguments by the powerful explaining why they should remain in power. In The Prince, Niccolò Machiavelli had commented in that earlier era on the prudent use of wealth, and the need to tolerate some cruelty and vice in the use of it, in order to maintain appearances of strength and power. This article is about the book by Niccolò Machiavelli. ... Machiavelli redirects here. ... Look up cruelty in Wiktionary, the free dictionary. ... Vice is a practice or habit that is considered immoral, depraved, and/or degrading in the associated society. ...


Jane Jacobs in the 1960s and 70s offered the observation that there were two different moral syndromes that were common attitudes to wealth and power, and that the one more associated with guardianship did in fact require a degree of ostentatious conspicuous consumption if only to impress others. Jane Jacobs, OC, O.Ont (May 4, 1916 – April 25, 2006) was an American-born Canadian urbanist, writer and activist. ... Jane Butzner Jacobs (born May 4, 1916) is a writer, activist, and city aficionado. ... Child custody and guardianship are the legal terms used to describe the legal and practical relationship between a parent and child, including e. ... Conspicuous consumption is a term used to describe the lavish spending on goods and services that are acquired mainly for the purpose of displaying income or wealth. ...


This logic is almost entirely absent from neoclassical economics, which in its extreme form argues for the abolition of any political economy apart from the service markets wherein favours may be bought and sold at will, including political ones - the so-called political choice theory popular in the U.S.A.. While it is entirely likely that such assumptions apply in the subcultures that dominate modern discourse on technical economics and especially macroeconomics, the less technical notions of wealth and power that are implied in the older theories of economics and ideas of wealth, still continue as daily facts of life. Neoclassical economics refers to a general approach (a metatheory) to economics based on supply and demand which depends on individuals (or any economic agent) operating rationally, each seeking to maximize their individual utility or profit by making choices based on available information. ... The Politics series Politics Portal This box:      Political economy was the original term for the study of production, the acts of buying and selling, and their relationships to laws, customs and government. ... Political economy was the original term for the study of production and the relationships of buying and selling and their relationship to laws, customs and government. ... For other uses, see United States (disambiguation) and US (disambiguation). ... Discourse is a term used in semantics as in discourse analysis, but it also refers to a social conception of discourse, often linked with the work of French philosopher Michel Foucault (1926-1984) and Jürgen Habermas The Theory of Communicative Action (1985). ... Circulation in macroeconomics Macroeconomics is a branch of economics that deals with the performance, structure, and behavior of a national economy as a whole. ...


Non financial wealth

The 21st century view is that many definitions of wealth can exist and continue to co-exist. Some people talk about measuring the more general concept of well-being.[attribution needed] This is a difficult process but many believe it possible - human development theory being devoted to this. Furthermore, Manoj Sharma [1], the head of DifferWorld's [2]faculty makes a very strong case of the importance of factoring in both financial wealth and non-financial wealth as a measure of True Wealth. Manoj Sharma's definition of True Wealth being a combination of financial, mental, emotional, physical and spiritual wealth; and how it is channeled towards the general good of humanity. Although these alternative measures of wealth exist, they tend to be overshadowed and influenced by the dominant money supply and banking system. For more on the modern notions of wealth and their interaction see the article on political economy. 20XX redirects here. ... The well-being or quality of life of a population is an important concern in economics and political science. ... Human development theory is an economic theory that merges older ideas from ecological economics, sustainable development, welfare economics, and feminist economics. ... In macroeconomics, money supply (monetary aggregates, money stock) is the quantity of currency and money in bank accounts in the hands of the non-bank public available within the economy to purchase goods, services, and securities. ... For other uses, see Bank (disambiguation). ... The Politics series Politics Portal This box:      Political economy was the original term for the study of production, the acts of buying and selling, and their relationships to laws, customs and government. ...


Sustainable wealth as a measure of well-being

Sustainable wealth is defined by the author of Creating Sustainable Wealth, Elizabeth M Parker, as meeting the individual’s personal, social and environmental needs without compromising the ability of future generations to meet their own needs. This definition of sustainable wealth comes from the marriage of sustainability as defined by the Brundtland Commission and wealth defined as a measure of well-being, not only from marriage but it also can be earned by working hard.


Sustainable wealth

According to the author of Wealth Odyssey, Larry R. Frank Sr, wealth is what sustains you when you are not working. It is net worth, not income, which is important when you retire or are unable to work (premature loss of income due to injury or illness is actually a risk management issue). The key question is how long would a certain wealth last? Ongoing withdrawal research has sustainable withdrawal rates anywhere between approximately 3 percent and 8 percent, depending on the research’s assumptions. Time, how long wealth might last, then becomes a function of how many times does the percentage withdrawal rate go into all the assets. Example: withdrawing 3 percent a year into 100 percent equals 33.3 years; 4 percent equals 25 years; 8 percent equals 12.5 years, etc. This ignores any growth, which presumably would be used to offset the effects of inflation. Growth greater than the withdrawal rate would extend the time assets may last, while negative growth would reduce the time assets may last. Clearly a lower withdrawal rate is more conservative. Knowing this helps you determine how much wealth you need also. Example: you know you will need $40,000 a year and use a 4 percent withdrawal rate, then you need to use 5 percent and therefore need $800,000, etc. This simple “wealth rule” helps you estimate both the time and the amount.


Buckminster Fuller's Notion of Wealth

In section 1075.25 of Synergetics, Buckminster Fuller defined wealth as "the measurable degree of established operative advantage". In Critical Path[2] Fuller described his notion as that which "realistically protected, nurtured, and accommodated X numbers of human lives for Y number of forward days". Philosophically, Fuller viewed "real wealth" as human know-how and know-what which he pointed out is always increasing. Richard Buckminster “Bucky” Fuller (July 12, 1895 – July 1, 1983)[1] was an American visionary, designer, architect, poet, author, and inventor. ...


The limits to wealth creation

There is a debate in economic literature, usually referred to as the limits to growth debate in which the ecological impact of growth and wealth creation is considered. Many of the wealth creating activities mentioned above (cutting down trees, hunting, farming) have an impact on the environment around us. Sometimes the impact is positive (for example, hunting when herd populations are high) and sometimes the impact is negative (for example, hunting when herd populations are low).


Most researchers feel that sustained environmental impacts can have an effect on the whole ecosystem. They claim that the accumulated impacts on the ecosystem put a theoretical limit on the amount of wealth that can be created. They draw on archeology to cite examples of cultures that they claim have disappeared because they grew beyond the ability of their ecosystems to support them.


Others are more optimistic (or, as the first group might claim, more naïve). They claim that although unrestrained wealth-creating activities may have localized environmental impact, large scale ecological effects are either minor or non-existent; or that even if global scale ecological effects exist, human ingenuity will always find ways of adapting to them, so that there is no ecological limit to the amount of growth or wealth that this planet will sustain[citation needed].


More fundamentally, the limited surface of Earth places limits on the space, population and natural resources available to the human race, at least until such time as large-scale space travel is a realistic proposition.


The difference between income and wealth

Wealth is a stock that can be represented in an accounting balance sheet, meaning that it is a total accumulation over time, that can be seen in a snapshot. Income is a flow, meaning it is a rate of change, as represented in an Income/Expense or Cashflow Statement. Income represents the increase in wealth (as can be quantified on a Cashflow statement), expenses the decrease in wealth. If you limit wealth to net worth, then mathematically net income (income minus expenses) can be thought of as the first derivative of wealth, representing the change in wealth over a period of time. Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... Net worth (sometimes net assets) is the total assets minus total liabilities of an individual or company. ...


The distribution of wealth

Capitalism asserts that all wealth is earned, not distributed. It can only be distributed after it is forcibly seized from the earners (usually in the form of tax). Wealth acquired this way is then distributed. Thus this section is concerned with the anti-capitalist conception of wealth, namely that all wealth is collective and distributed among individuals. Differences in national income equality around the world as measured by the national Gini coefficient. ... For other uses, see Capitalism (disambiguation). ...


Different societies have different opinions about wealth distribution and about the obligations related to wealth, but from the era of the tribal society to the modern era, there have been means of moderating the acquisition and use of wealth. An obligation can be legal or moral. ... A tribe, viewed historically or developmentally, consists of a social group existing before the development of, or outside of, states, though some modern theorists hold that contemporary tribes can only be understood in terms of their relationship to states. ...


In ecologically rich areas such as those inhabited by the Haida in the Cascadia ecoregion, traditions like potlatch kept wealth relatively evenly distributed, requiring leaders to buy continued status and respect with giveaways of wealth to the poorer members of society. Such traditions make what are today often seen as government responsibilities into matters of personal honour. This article is about the people. ... The Pacific Northwest from space This page is about the region that includes parts of Canada and the US. For the US only region, see Northwestern United States The Pacific Northwest (abbreviated PNW, or PacNW) or Cascadia is a region in the northwest of North America. ... For other uses, see Potlatch (disambiguation). ...


In modern societies, the tradition of philanthropy exists. Large donations from funds created by wealthy individuals are highly visible, although small contributions by many people also offer a wide variety of support within a society. The continued existence of organizations which survive on donations indicate that modern Western society has at least some level of philanthropy. Philanthropy is the act of donating money, goods, time, or effort to support a charitable cause, usually over an extended period of time and in regard to a defined objective. ...


Furthermore, in today's societies, much wealth distribution and redistribution is the result of government policies and programs. Government policies like the progressivity or regressivity of the tax system can redistribute wealth to the poor or the rich respectively. Government programs like “disaster relief” transfer wealth to people that have suffered loss due to a natural disaster. Social security transfers wealth from the young to the old. Fighting a war transfers wealth to certain sectors of society. Public education transfers wealth to families with children in public schools. Public road construction transfers wealth from people that do not use the roads to those people that do (and to those that build the roads). Certain people resent having to contribute to some or all of these programs, and disparagingly label them social engineering. Social engineering is a concept in political science that refers to efforts to systematically manage popular attitudes and social behavior on a large scale, whether by governments or private groups. ...


Like all human activities, wealth redistribution cannot achieve 100% efficiency. The act of redistribution itself has certain costs associated with it, due to the necessary maintenance of the infrastructure that is required to collect the wealth in question and then redistribute it. Different people on different sides of the political spectrum have different views on this issue. Some see it as unacceptable waste, while others see it as a natural fact of life, which is inevitable in all kinds of inter-human relations.


Proponents of the supply-side theory of "trickle-down" economics claim that it is a form of time-deferred philanthropy. The theory is that newly created wealth eventually "trickles down" to all strata of society. The argument goes that although wealth is created primarily by the wealthy, they will tend to reinvest their wealth, and this process will create even more wealth. As the economy grows, it is said that more and more people will share in the newly created wealth. A similar argument can be made in the case of Keynesian economics. According to this theory, government redistributions and expenditures have a multiplier effect that stimulates the economy and creates wealth. Supply-siders claim that wealth is created primarily by investment (supply), whereas Keynesians claim that wealth is driven by expenditure (demand). Today most economists agree that growth can be stimulated by either the supply or demand side, and some of them argue that these are really two sides of the same coin, in the sense that you seldom get one without the other. Nevertheless, the dispute between supply-side and Keynesian economics is of continuing interest. Supply-side economics is a school of macroeconomic thought that argues that economic growth can be most effectively created using incentives for people to produce (supply) goods and services, such as adjusting income tax and capital gains tax rates. ... Keynesian economics, or Keynesianism, is an economic theory based on the ideas of John Maynard Keynes, as put forward in his book The General Theory of Employment, Interest and Money, published in 1936 in response to the Great Depression of the 1930s. ... In economics, the multiplier effect refers to the idea that an initial spending rise can lead to even greater increase in national income. ...


Stresses within social distribution systems can be understood within a broad theory of political economy, where tradeoffs between means of protection, persuasion and production, and valuations of different styles of capital, are described. Simply put, if the rich do not at least once in a while give away, of their own free will, at least a small part of their wealth to the poor, then the poor are much more likely to rebel against the rich. The Politics series Politics Portal This box:      Political economy was the original term for the study of production, the acts of buying and selling, and their relationships to laws, customs and government. ... A means of protection is some contract or guarantee of security for body or property. ... A means of persuasion, in some theories of politics and economics, can substitute for a factor of production by providing some influence or information. ... Capital has a number of related meanings in economics, finance and accounting. ...


Wealth in the form of land

Many indigenous cultures reject the notion of land wealth. In western tradition, the concepts of owning land and accumulating wealth in the form of land, are derived from Biblical tradition, where God told the Israelites to go in and take possession of the promised land of Caanan.


Land ownership was also justified according to John Locke. He claimed that because we admix our labour with the land, we thereby deserve the right to control the use of the land and benefit from the product of that land, subject to the Lockean proviso of "at least where there is enough, and as good left in common for others." Additionally, in our post agricultural society this argument has many critics (including those influenced by Georgist and geolibertarian ideas) that argue that since people did not create land, they have no right of property over it. Still, many older ideas have resurfaced in the modern notions of ecological stewardship, bioregionalism, natural capital, and ecological economics. But in Oriental philosophy, wealth which does not ensure peace of mind, or wealth which is not shared with the needy, or undeserved wealth is no better than poverty. For other persons named John Locke, see John Locke (disambiguation). ... The Lockean Proviso is simply the limitation: at least where there is enough, and as good left in common for others. ... Georgism, named for Henry George (1839-1897), is a philosophy and economic theory that follows from the belief that although everyone owns what they create; land, and everything else supplied by nature, belongs equally to all humanity. ... Georgism, named for Henry George (1839-1897), is a philosophy and economic theory that follows from the belief that although everyone owns what they create; land, and everything else supplied by nature, belongs equally to all humanity. ... Look up stewardship in Wiktionary, the free dictionary. ... Bioregionalism is a term used to describe an approach to political, cultural, and environmental issues based on naturally-defined regional areas, consistent with the concept of bioregions, or ecoregions. ... Natural capital, as described in the book Natural Capitalism, is a metaphor for the mineral, plant, and animal formations of the Earths biosphere when viewed as a means of production of oxygen, water filter, erosion preventer, or provider of other ecosystem services. ... Ecological economics is a transdisciplinary field of academic research that addresses the dynamic and spatial interdependence between human economies and natural ecosystems. ...


See also

Look up wealth in Wiktionary, the free dictionary.

Wikipedia does not have an article with this exact name. ... Wiktionary (a portmanteau of wiki and dictionary) is a multilingual, Web-based project to create a free content dictionary, available in over 151 languages. ... The percentage of households and individuals over the age of 25 with incomes exceeding $100,000 in the US.[1][2] Affluence in the United States refers to an individuals or households state of being in an economically favorable position in contrast to a given reference group. ... Most generally, the accumulation of capital refers simply to the gathering or amassment of objects of value; the increase in wealth; or the creation of wealth. ... Differences in national income equality around the world as measured by the national Gini coefficient. ... For information on the income of individuals, see Personal income in the United States. ... Billion and Billionaire in the context of the following lists refers to the short scale meaning of the word i. ... For information on household income, see Household income in the United States. ... A boy from an East Cipinang trash dump slum in Jakarta, Indonesia shows what he found. ... Private banking is done by major institutional banks known as private banks, which offer financial services to private individuals. ... Surplus product (German: Mehrprodukt) is a concept explicitly theorised by Karl Marx in his critique of political economy. ... In economics wealth of a person or nation is the value of assets owned minus the value of liabilities owed (to foreigners in the case of a nation) at a point in time. ... Wealth condensation is a theoretical process by which, in certain conditions, newly-created wealth tends to become concentrated in the possession of already-wealthy individuals or entities. ...

References

  1. ^ Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations
  2. ^ Fuller, R. Buckminster (1981). Critical Path. New York: St. Martin's Press, p. 125. ISBN 0312174888. 

External links

Tips to make you Rich


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