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 ?
Keheyan said the financial crisis being witnessed today was largely the result of societies investing in material wealth instead of cultural wealth, "of idolising financial profit over a richness of spirit".
We too are not in favour of spoiling children and creating elitism around material wealth, but rest assured our service for school runs is really not about posh limos and showing off.
They looked for a life less involved with material wealth and simpler in structure - a life where they consumed less and created more.
You may not be able to measure material wealth in trees and fields, but our green spaces are among the most attractive facets of our city - a foundation stone upon which quality of life is built for so many Cardiffians.
More importantly, Tom resolves to abandon his life of material wealth and focus instead on the wealth that loving families provide.
He added that wealth of the nations is not measured by the natural and material wealth but is largely measured by the extent to which focus and care is given to the development of its youths.
Those who put priority on material wealth fell 0.9 point to 30.1 percent, according to the survey by the Cabinet Office conducted on 10,000 people nationwide in June and July.
Success is based on how much material wealth one possesses.
Until we develop some kind of renewable magic bullet, alongside a more gentle approach to material wealth, nuclear is our best "holding" option if we are going to cook food and drive electric cars and heat our houses, unless we wish to become totally dependent on nice Mr Putin.
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.
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. General-interest collections as well as college-level holdings strong in economic history and iscussion will find this a winner.
And last month's rioting and looting was in part caused by our obsession with material wealth, says Unicef.