MEANING OF WEALTH

In material terms, wealth is the individual or collective accumulation of assets over time. In the context of this article, assets are items of value against which, in modern economic systems, monetary worth may be attached. These items may include land, structures built upon it, contents thereof and their applications towards management and accumulation of more wealth. They may also include objects perceived to be aesthetically precious, such as gold, diamond, pearls, and works of art of all kinds.

©Simon Chilembo 2017

Other items of value may be ownership of stock in business enterprises, and possession of hard transactional cash both outside and inside the banking system. A summation of all the mentioned gives total wealth of the individual, organization, or nation concerned. When liabilities are subtracted, a net worth is derived. The higher the net worth of an entity, the wealthier they are.

In principle, material wealth ought to facilitate acquisition and provision of life’s basic needs and wants, and much more, for those in possession and management of it. When this happens, a state of opulence has been attained. The wealthy, i.e. possessors of net positive wealth, are defined as such because their wealth gives them almost unlimited possibilities to access and acquire as their needs, wants, and demands dictate. This is manifestation of power. As to the judiciousness of the wealthy’s use of power in society is another discussion outside the scope of this presentation.

Genuine wealth is, by definition, a functionally non-static concept eroded over time. A state of poverty is reached upon when time has, for any reason, eliminated the symbols of, and access to wealth and the benefits thereof accruing for the formerly wealthy.

Wealth is regenerative, self-sustaining, and seeks to perpetuate itself indefinitely, to the extent that natural and social forces permit. Social forces referring here to the mechanisms through which society is organized politically, economically, and culturally. The essence of wealth is growth, that with reference to quantitative and qualitative aspects of existence, for both the individual and society. This denotes progress, leading to overall societal development.

At my age, 57 years old, I have reached a stage in life where, with a mixture of wonder and sadness, I have watched my contemporaries go through the most amazing transformations in life. Some have died; others are dead-people-walking with terminal diseases, or pursuing life-style choices slowly but surely sucking the lives out of them. There are those who have lost, and are losing their loved ones in the same fashion.

Many others have been married and divorced at least once. A few have found more fulfilling lives after divorce. Others have lost their children and everything they had owned, including self-control contra temptations of the world. The latter lead miserable lives of constant searches for ever non-gratifying pleasures of life, also dying slowly inside.

Some of them have, with varying degrees of success, even been on the suicide path more than once before. Watching them go by their tragic lives, every day is like on a tick-tock-tick-tock time bomb rhythm. When the lethal explosion finally comes, I hope it’ll find each one alone in each their valleys of death. I hope further that they will finally find peace on the other side, if the other side does exist at all … (Continued in the book: “MACHONA BLOGS – As I See It”. Order Simon Chilembo books on Amazon)

Simon Chilembo
Welkom
South Africa
Tel.: +27 81318 5271
June 15, 2017