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In the Roman Empire, just as in modern colonialism, the main force behind the conquest of countries was the exploitation and accumulation of wealth in quantitative values like gold and money. Modern philosophers like Nietzsche criticized the fixation on measurable wealth: Der eigentliche Zweck alles Reichtums ist vergessen! The real purpose of all wealth has been forgotten! For the concept of non-expenditure of income per unit of time, see Saving.
In economics , wealth in a commonly applied accounting sense, sometimes savings is the net worth of a person, household, or nation, that is, the value of all assets owned net of all liabilities owed at a point in time. For national wealth as measured in the national accounts , the net liabilities are those owed to the rest of the world. Wealth or savings is a stock variable, that is, measurable at a date in time, for example the value of an orchard on December 31 minus debt owed on the orchard.
For a given amount of wealth, say at the beginning of the year, income from that wealth, as measurable over say a year is a flow variable. What marks the income as a flow is its measurement per unit of time, such as the value of apples yielded from the orchard per year. In macroeconomic theory the ‘ wealth effect ‘ may refer to the increase in aggregate consumption from an increase in national wealth.
One measure of it is the wealth elasticity of demand. It is the percentage change in the amount demanded of consumption for each one-percent change in wealth. Wealth may be measured in nominal or real values , that is in money value as of a given date or adjusted to net out price changes.
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Thanks a lot for these suggestions. I will be sure to make a list of these topics and include them in the future videos really soon. Christine Agreed, some great topics. I will subscribe to your youtube channel. Looking forward to it. Not every vacation requires a 10 hour flight and a luxury hotel. A quick getaway in a car for a night or two can also be considered a getaway.
I very much appreciate these ideas and will get to work shortly. Be sure to subscribe to my youtube channel to be notified of new videos on these topics.
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