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 ?
Ces rencontres ont connu une affluence particuliere, notamment de la part d'un public hautement motive par un investissement immobilier au Maroc et venu ecouter et echanger autour de sujets traditionnels relatifs aux differentes etapes ponctuant une acquisition immobiliere, notamment la fiscalite, la transmission du patrimoine et les regimes fonciers.
Affluence is taken here to mean abounding in the provision of goods and services beyond those necessary to maintain a basic standard of living.
Richard Brasher has been saying affluence is the new format.
The Challenge of Affluence makes an interesting and provocative argument; chapters build upon chapters, and by the end of the book, Offer has drawn a damning portrait of consumer society.
Affluence and average wealth conditions were primed by asking participants to imagine spending [yen] 2,500 per month on their living costs, because most students' living costs in Mainland China are around [yen] 500/m, and [yen] 2,500/m would be perceived as being very high by them.
I feel that we, across the globe, do not have a clear understanding of this mass affluence and its side effects, just as I did not quite comprehend Gangotri when I was in elementary school.
Mintel senior market analyst Amanda Lintott said, 'Hectic lifestyles and rising affluence mean that consumers are increasingly looking to buy products that reduce the time they spend doing household chores.
In "Famine, Affluence, and Morality," Singer concludes that the affluent have an obligation to assist those whose lives are in danger, such as those living in conditions of absolute poverty.
In The Anxieties of Affluence, David Horowitz, professor of American Studies at Smith College, investigates responses to affluence from the end of the Great Depression through the energy crisis of the 1970s.
The first has been fulfilled and the second has been underway for four or more centuries but has accelerated unexpectedly since World War II in an era of greatly increased affluence and breathtaking technological advances.
The problem is that the most fortunate part of the human population has now attained an affluence that approaches historical opulence.
To explore observers' impressions of the relationship between a target person's affluence level and that target person's likelihood of engaging in each of McGuire's (1994) four types of helping behaviors, 84 American college students read a scenario and rated the likelihood that the target person would engage in each of 20 helping behaviors.