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 ?
The third section discusses the meaning and measurement of rich, middle class, poor, and affluence in modern economies and how it relates to the biblical teachings of section 2.
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.
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.
Steve Bhaerman, known by his popular alias of Swami Beyondananda, "uncommontator and political guru", encourages ordinary citizens to wake up and take back government of, by, and for the people--with a chuckle inducing affluence of puns, black-and-white cartoons, and wry insights to drive the point home.
In a culture of consumption and affluence like that of the United States, Simon reminds us that there is an alternative: the way of gratitude and generosity.
The New Consumers: The Influence of Affluence on the Environment Norman Myers, Jennifer Kent
The amount of light emanating from each area of the planet is linked to its affluence and its access to resources, so that the piece is an index of that which each bright expanse exacts from the populations in the dark.
Yalnizyan also stresses "this slide to the bottom is creating a great divide in this country--a divide made more intractable over the 1990's, as the odds of crossing over to greater affluence or making it to the middle becomes a longer shot.
Sadly, the affluence of the Potomac has overshadowed its little sister tributary, the Anacostia River.
The constructive course is for affluent countries to close their borders, enjoy their affluence, and say to the rest of the world, "Look, if you want to be affluent like we are, limit your populations like we did.