What is wealth?

[rhett o rick]

I know that Adam Smith said that wealth is, "the annual produce of the land and labour of the society." So if wealth is the "produce" then according to Smith it is material. So theoretically all the wealth in the world should be represented by material. I doubt this is true. I believe the wealth of the world is highly inflated. If so to what advantage. Sorry, it's early and I am just rambling.

[malthaussen]

1. Of course Smith was speaking of material wealth to start with.

Since the value of a thing is what it will bring, the world's wealth can't be inflated. However, neither can it be constant. Who benefits from fluctuations in "wealth?" Mostly those who can increase their wealth through such fluctuations.

-- Mal

[rhett o rick]

2. What makes wealth fluctate? When commodities traders bid the "value" of something

up, isnt that fake wealth?

[Tuesday Afternoon]

3. to me -

wealth is the feeling of being comfortable in my own skin, finally.

[discntnt_irny_srcsm]

5. By "comfortable in my own skin"...

...do you mean physical appearance?

[Tuesday Afternoon]

6. it is that and more. I am comfortable with who I am and my surroundings. I am at peace and do not

feel the need to impress any one ...

I am wealthy. I am happy, peaceful and content.

[discntnt_irny_srcsm]

7. That's a good thing.

[Tuesday Afternoon]

8. I think so. With that and, my good health I feel like I am very wealthy.

[discntnt_irny_srcsm]

9. You are indeed.

[discntnt_irny_srcsm]

4. Wealth is...

...the ability to be happy.

In Economics I was taught that the fundamental problem is satisfying unlimited needs and wants with limited means. Satisfaction yields happiness and want yields sadness. Basically, wealth is as much about learning to be happy with what your means can afford as it is about trying to improve your means.