|
Wealth |
S-Cool Web Site The definition offered here is slightly more-involved: "Although wealth is generally understood to mean the same as property, we have to be careful as to what form of property we are referring. In a common sense understanding of the term, we all own property. However, when considering property as similar to wealth, we need to make a crucial distinction between forms of property...consumption property and productive property. Consumption property is that we have for personal use - clothes, cars, family homes. Productive property makes money; it is capital and includes factories, farms, stocks and shares. This sort of property produces an income. Productive property provides what is called unearned income. It is unearned income that generates wealth, and wealth produces more wealth through reinvestment". |
