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 ?
Rich people, old people (as already mentioned), young people, commoners, people who like their holidays "chavvie" and "plastic" (someone - a brave soul - said, yes, thanks, she did), people who would be doing us all a favour if they were "sent out to sea and sunk", people with the cultural imagination of gnats, thick people, poor people (I believe the latter can apply to work there, for a berth in the bowels and an array of subhuman rights), morons, those after a "correction facility for those who want to smoke and eat fat" (eh?
11% of rich people read for entertainment, compared to 79% of poor
The Supreme Court has become the safe haven for rich people," Chauhan asked the lawyer of Thankam Rajan, who had sought an urgent hearing of her appeal against the National Thermal Power Corporation regarding a high court order.
Riyadh, Rabi'II 19, 1435, Feb 19, 2014, SPA -- The Grand Mufti of the Kingdom of Saudi Arabia and President of Council of Senior Scholars and General Presidency of Scholarly Research and Ifta, Sheikh Abdulaziz bin Abdullah bin Mohammed Al Al-Sheikh has appealed to citizens and residents, especially wealthy businessmen, merchants and rich people to speed up to contribute to the Saudi National Campaign to Support Brothers in Syria to deliver their donations easily and conveniently through the campaign, which is considered as the sole agency to receive donations and aid to our brothers in Syria.
He gives as his reason that we need more rich people living in Liverpool to gather more council tax revenue.
There are 1,360 rich people in the Kingdom with a total wealth of $285 billion," the report pointed out.
BERNARD JONES (You Say, February 11) seems to have missed the point of the campaign to keep Cardiff Riding School as a council resource, which is to avoid it becoming an elitist facility only for rich people.
THE Scottish Labour Party don't seem to want rich people to use our free bus passes, free education or free prescriptions that we have in Scotland.
Melbourne, September 4 ( ANI ): The differences between how rich and average people think are numerous and extreme, according to Steve Siebold, author of How Rich People Think.
David Cameron should have a serious think and concentrate on all those rich people connected with the Tories and stay well clear of the generation who have retired after grafting for 40 or more years.
Synopsis: More than six in 10 Americans think the United States benefits from having a class of rich people, unchanged from 22 years ago.
Rich people love their art, especially the rare and historic ones, like an original van Gogh, for example.