wealth

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Wealth

The state of having strong financial resources. There is no strict definition of how much one needs to have in order to be "wealthy," but, in general, it refers to one with significantly more assets than liabilities. However, socially, a person with too much debt may be considered to be wealthy because others are not aware of his/her true financial state. Excess wealth (and wealthy persons) drives economic growth. Some believe this ought to be encouraged, as it eventually makes the remainder of society wealthier. Others, however, believe growth is strongest when the needs of multiple classes, and not just the wealthy, are balanced. A few others believe most wealth ought to be confiscated and redistributed, but this is a minority opinion.

wealth

the total stock of ASSETS owned by the population of a country. Wealth represents past income flows which have been used to buy such assets as houses, land, stocks and shares etc. One commonly used measure of wealth in the UK is that of ‘marketable wealth’, consisting of those assets which are readily saleable. Wealth in the UK, like income, (see DISTRIBUTION OF INCOME), is unevenly distributed (see Fig. 89). See WEALTH TAX.
Wealthclick for a larger image
Fig. 197 Wealth. The distribution of marketable wealth in the UK, 2002. The total includes land and dwellings (net of mortgage debt), stocks and shares, bank and building society deposits and other financial assets but excludes life assurance and pensions. Source: Social Trends, 2004.

wealth

the stock of net ASSETS owned by individuals or households. In aggregate terms, one widely used measure of the nation's total stock of wealth is that of ‘marketable wealth’, that is, physical and financial assets that are in the main relatively liquid. In 2002, marketable wealth in the UK totalled around £3,400 billion (this excludes life assurance and pension entitlements, which account for some one-third of all wealth assets but which are not readily liquid). Marketable wealth is not equally distributed in the UK, as Fig. 197 shows. In 2002, the richest 5% of the population owned 43% of marketable wealth.
References in periodicals archive ?
DUBAI - For some, it's being with family, for a few others its material wealth, some give credit to love and for many it's just a state of mind.
When her wishes start to come true, she realises there are more important things then material wealth (Cert PG, 1997) ?
Globally, parents want to pass on their material wealth to their children, as well as a roadmap for a happy life, but the report reveals some interesting paradoxes about inheritance and succession.
The rise of economics was fostered by a series of remarkable visionary individuals: this identifies and documents their lives and affects upon the world economy and material wealth.
McGuinty does not appear concerned if some of the families of Ontario do not share his concern for the accumulation of material wealth and services by competing globally.
And last month's rioting and looting was in part caused by our obsession with material wealth, says Unicef.
Poverty eradication programs have generally focused on the creation of material wealth.
This battle has become so epic in its proportions that we can say that just as the "Dutch Disease" has become emblematic of the damage oil and gas wealth can do to the rest of a country's economy, so for countries characterized by over-abundant raw material wealth but inadequate rule of law and social mores, the "Russian Disease" symbolizes the corrupting influence that too much oil can have on a country's laws and social behavior and the no-holds-barred political and personal fight for control that the oil wealth almost always ignites.
2 Corinthians: 6-2 (New International Version) MANY of us spend our time in pursuit of material wealth for the benefit of ourselves or our families.
Ellis tells this part of the story adeptly, describing the cultural clash between the well-meaning Europeans and Shauzia, who has no way of relating to the abundance of food, clothes, and other material wealth in her new home.
When she has enough material wealth, Carmen wants out of the business, but the business won't let her go.
We are no longer content to keep up with the Jones's for we live in an age when the quest for material wealth is becoming more important than simple acts of kindness to those less fortunate.