Philosophy

rhett o rick

(55,981 posts) Sat Mar 16, 2013, 11:19 AM Mar 2013

What is wealth?

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.

9 replies

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What is wealth? (Original Post) rhett o rick Mar 2013 OP

Of course Smith was speaking of material wealth to start with. malthaussen Mar 2013 #1

What makes wealth fluctate? When commodities traders bid the "value" of something rhett o rick Mar 2013 #2

to me - Tuesday Afternoon Mar 2013 #3

By "comfortable in my own skin"... discntnt_irny_srcsm Mar 2013 #5

it is that and more. I am comfortable with who I am and my surroundings. I am at peace and do not Tuesday Afternoon Mar 2013 #6

That's a good thing. discntnt_irny_srcsm Mar 2013 #7

I think so. With that and, my good health I feel like I am very wealthy. Tuesday Afternoon Mar 2013 #8

You are indeed. discntnt_irny_srcsm Mar 2013 #9

Wealth is... discntnt_irny_srcsm Mar 2013 #4

malthaussen

(17,672 posts)

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

Reply to rhett o rick (Original post)

Sat Mar 16, 2013, 11:50 AM

Mar 2013

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

(55,981 posts)

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

Reply to malthaussen (Reply #1)

Sat Mar 16, 2013, 04:15 PM

Mar 2013

up, isnt that fake wealth?

Tuesday Afternoon

(56,912 posts)

3. to me -

Reply to rhett o rick (Original post)

Sat Mar 16, 2013, 05:48 PM

Mar 2013

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

discntnt_irny_srcsm

(18,577 posts)

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

Reply to Tuesday Afternoon (Reply #3)

Sat Mar 16, 2013, 07:54 PM

Mar 2013

...do you mean physical appearance?

Tuesday Afternoon

(56,912 posts)

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

Reply to discntnt_irny_srcsm (Reply #5)

Sat Mar 16, 2013, 08:06 PM

Mar 2013

feel the need to impress any one ...

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

discntnt_irny_srcsm

(18,577 posts)

7. That's a good thing.

Reply to Tuesday Afternoon (Reply #6)

Sat Mar 16, 2013, 08:28 PM

Mar 2013

Tuesday Afternoon

(56,912 posts)

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

Reply to discntnt_irny_srcsm (Reply #7)

Sat Mar 16, 2013, 08:39 PM

Mar 2013

discntnt_irny_srcsm

(18,577 posts)

9. You are indeed.

Reply to Tuesday Afternoon (Reply #8)

Sat Mar 16, 2013, 09:08 PM

Mar 2013

discntnt_irny_srcsm

(18,577 posts)

4. Wealth is...

Reply to rhett o rick (Original post)

Sat Mar 16, 2013, 07:52 PM

Mar 2013

...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.

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