Concept
Wealth
Related concepts (29)
Personal property
Personal property is property that is movable. In common law systems, personal property may also be called chattels or personalty. In civil law systems, personal property is often called movable property or movables—any property that can be moved from one location to another. Personal property can be understood in comparison to real estate, immovable property or real property (such as land and buildings). Movable property on land (larger livestock, for example) was not automatically sold with the land, it was "personal" to the owner and moved with the owner.
Agrarian society
An agrarian society, or agricultural society, is any community whose economy is based on producing and maintaining crops and farmland. Another way to define an agrarian society is by seeing how much of a nation's total production is in agriculture. In an agrarian society, cultivating the land is the primary source of wealth. Such a society may acknowledge other means of livelihood and work habits but stresses the importance of agriculture and farming.
Gross National Happiness
Gross National Happiness (GNH), sometimes called Gross Domestic Happiness (GDH), is a philosophy that guides the government of Bhutan. It includes an index which is used to measure the collective happiness and well-being of a population. Gross National Happiness Index is instituted as the goal of the government of Bhutan in the Constitution of Bhutan, enacted on 18 July 2008.
Happiness economics
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health. It typically treats subjective happiness-related measures, as well as more objective quality of life indices, rather than wealth, income or profit, as something to be maximized.
Upper middle class
In sociology, the upper middle class is the social group constituted by higher status members of the middle class. This is in contrast to the term lower middle class, which is used for the group at the opposite end of the middle-class stratum, and to the broader term middle class. There is considerable debate as to how the upper middle class might be defined. According to sociologist Max Weber, the upper middle class consists of well-educated professionals with postgraduate degrees and comfortable incomes.
Natural capital
Natural capital is the world's stock of natural resources, which includes geology, soils, air, water and all living organisms. Some natural capital assets provide people with free goods and services, often called ecosystem services. All of these underpin our economy and society, and thus make human life possible. It is an extension of the economic notion of capital (resources which enable the production of more resources) to goods and services provided by the natural environment.
Grundrisse
The Grundrisse der Kritik der Politischen Ökonomie (Foundations of a Critique of Political Economy) is an unfinished manuscript by the German philosopher Karl Marx. The series of seven notebooks was rough-drafted by Marx, chiefly for purposes of self-clarification, during the winter of 1857–8. Left aside by Marx in 1858, it remained unpublished until 1939. The Grundrisse is very wide-ranging in subject matter and covers all six sections of Marx's critique of political economy (of which only one, the first volume of Das Kapital, ever reached a final form).
Pension
A pension (ˈpɛnʃən; ) is a fund into which amounts are paid regularly during the individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be: a "defined benefit plan", where defined periodic payments are made in retirement (and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments), or a "defined contribution plan", under which defined amounts are paid in during the working life, and the retirement payments are whatever can be afforded from the fund.
Physical capital
Physical capital represents in economics one of the three primary factors of production. Physical capital is the apparatus used to produce a good and services. Physical capital represents the tangible man-made goods that help and support the production. Inventory, cash, equipment or real estate are all examples of physical capital. N.G. Mankiw definition from the book Economics: Capital is the equipment and structures used to produce goods and services.