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Wealth

Wealth is the abundance of valuable resources or valuable material possessions. This includes the core meaning as held in the originating old English word weal, which is from an Indo-European word stem. An individual, community, region or country that possesses an abundance of such possessions or resources to the benefit of the common good is known as wealthy. Net worth is defined as the current value of one's assets less liabilities (exclude the principle in trust accounts). The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics yet the meaning of wealth is context-dependent. At the most general level, economists may define wealth as "anything of value" that captures both the s… more »