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<p>At the risk (with the awareness of?) being pedantic:</p>
<p>My working definition of Wealth is that it is accumulated or
stored Value which just begs the question of "what is Value?"</p>
<p>There are a few reasons that Fiat Currency is a common measure of
Value and Wealth (e.g. GDP, personal Wealth/Income, etc), the most
obvious (I think) is that it IS reductive and moderately
fungible. Money is "the universal solvent" which on one hand
means it helps to solve or clean up sticky problems, but it also
ultimately "dissolves everything". And you "can't buy happiness"
but money *does* work to leverage/relieve various things which
contribute-to/detract-from happiness. The kid who killed the
Asian Massage Parlor women seemed to have hit a boundary on that
one and took it out on them. <br>
</p>
<p>I started the thread "what is Wealth for?" to prompt the kinds of
discussions that have been offered up and perhaps beyond.</p>
<p>My working definition of Value includes it being very
Subjective/Personal/Context Specific and that it is at least a
Vector, probably more properly a Tensor. As a strawman (in my
sense), I offer dimensions such as:</p>
<ol>
<li>Fiat Currency with it's exchange rate among other similar
instruments, it's liquidity, inflation/interest rates, etc.</li>
<li>Data/Knowledge/Wisdom spectrum</li>
<li>Love, Kindness, Filial/Fealthy networks</li>
<li>Tools (levers) for specific tasks/goals</li>
<li>Raw materials <br>
</li>
<li>Comfort items (soft warm bed, nice view, etc.)<br>
</li>
<li>Basic need items (air, water, food, shelter, ...) - <br>
</li>
<li>Reputation</li>
<li>Beauty/Culture<br>
</li>
<li>et cetera, ad nauseum</li>
</ol>
<p>Bhutan's Gross Domestic Happiness Index is an interesting way of
evaluating the Tensor of Life into a singular Eigenvalue. It is
most useful to our Western Hypercapitalism as a strong contrast to
the way *we* collapse it all into $USD (private wealth or GDP
or... ) even though we know money can't always buy happiness and
as with our favorite whipping boy and his neice's book "Too Much
and Not Enough" what seems like a linear or maybe log curve is not
only fraught with inflection points, it has some kinks and even
knots built into it.</p>
<p>If the calculus of our "happiness tensor" includes satisficing as
well as optimizing terms, we see something somewhat different the
usual math for evaluating (economic) wealth/value... <br>
</p>
<p> "Enough is too much, and that is just right!" - antidote to
"Too Much and Not Enough"</p>
<p>Some of the terms in the Value Tensor refer to virtuous rather
than vicious cycles (e.g. Love, Kindness, Generosity). The
extrema are interesting but not defining (Elon Musk, Mother
Teresa, Ghandi, Nelson Mandela, your favorite Street Person).</p>
<p>mumble,</p>
<p> - Steve<br>
</p>
<p><br>
</p>
<div class="moz-cite-prefix">On 3/19/21 7:54 AM, Pieter Steenekamp
wrote:<br>
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<div dir="ltr">"
I still don't see what's wrong with the dictionary definition.
Is there some reason we need a different definition? "<br>
<br>
Maybe we want to include non-material wealth such as Merle's
example of the formar Bhutan's happiness?<br>
Maybe we also want to include Nick's freedom to think as wealth?<br>
<br>
@Merle, you asked for a definition, what do you think?
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<div class="gmail_quote">
<div dir="ltr" class="gmail_attr">On Fri, 19 Mar 2021 at 15:42,
uǝlƃ ↙↙↙ <<a href="mailto:gepropella@gmail.com"
moz-do-not-send="true">gepropella@gmail.com</a>> wrote:<br>
</div>
<blockquote class="gmail_quote" style="margin:0px 0px 0px
0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">I
still don't see what's wrong with the dictionary definition.
Is there some reason we need a different definition?<br>
<br>
American Heritage ---<br>
wealth (wĕlth) n.<br>
1.a. An abundance of valuable material possessions or
resources; riches: gave his wealth away to charity.<br>
b. The state of being rich; affluence: a community of great
wealth.<br>
2. Goods and resources having value in terms of exchange or
use: the agricultural wealth of the region.<br>
3. A great amount; a profusion: a wealth of advice.<br>
<br>
<br>
Merriam-Webster ---<br>
wealth noun \ ˈwelth also ˈweltth \<br>
1 : abundance of valuable material possessions or resources<br>
2 : abundant supply : profusion<br>
3a : all property that has a money value or an exchangeable
value<br>
b : all material objects that have economic utility especially
: the stock of useful goods having economic value in existence
at any one time national wealth<br>
4 obsolete : weal, welfare<br>
<br>
<br>
On 3/18/21 9:42 PM, Pieter Steenekamp wrote:<br>
> Let me try a definition of wealth:<br>
> <br>
> Wealth is that what makes you happy.<br>
> <br>
> <br>
> On Fri, 19 Mar 2021 at 06:01, Merle Lefkoff <<a
href="mailto:merlelefkoff@gmail.com" target="_blank"
moz-do-not-send="true">merlelefkoff@gmail.com</a>
<mailto:<a href="mailto:merlelefkoff@gmail.com"
target="_blank" moz-do-not-send="true">merlelefkoff@gmail.com</a>>>
wrote:<br>
> <br>
> Is the definition of wealth having a lot of whatever
the culture values? (I'm late meeting Nick's challenge to
me.) The former Bhutan (it's changing drastically and
rapidly) valued Happiness. It's why their happy people
thought they were wealthy, despite being one of the world's
least "developed" country. (GDP is now rising with outside
development of its natural resources). <br>
> <br>
<br>
<br>
-- <br>
↙↙↙ uǝlƃ<br>
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