Unravelling The Money Puzzle: What is Wealth?
Rob’s comments below are in italics.Derek’s comments below are in normal font.
Wealth is one of those terms we all think we know. When you dig into it, it’s quite hard to pin down, isn’t it? Or we just equate it to “money in the bank”. Maybe there’s a slightly wider perspective on it as well.
Yes, I thought we’d start by examining that question, because it’s something we take for granted.
When we were talking about what is money, one of the main aspects we discussed was that money is a claim on wealth. So right away, that indicates that money and wealth are two distinct things. If money is a…
The skinny
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