What is wealth and is it more than just money?

What is wealth and is it more than just money?

Are you wealthy? If so, in what way are you wealthy?

Wealthy. We have all wanted to be ‘it’ at one point or another.  But really, what is wealth?  Is it numbers on a computer screen, pieces of paper, gold bars?  Strictly speaking, it is one’s net asset position, of course.  But in a more fundamental sense, what is it?

Wealth is something we want, and yet, we go through most of our lives confusing currency and wealth.  The end result: the never-ending pursuit of ever-increasing digits on a computer screen.   But arguably wealth is a lot more than just money, it is anything “of great worth or quality”.  The other aspects of wealth have been massively downplayed, for most of the last century.

Real wealth is many things, but what will prove to be most valuable in the years to come?  We present to you our take on the Top Alternative Measures of Wealth for the 21st Century.

1) Skill. Highly skilled individuals will continue to be highly valued.  Machine operators, teachers,  managers, analysts.  If you are highly skilled in only one area, you also have to be ready to be highly adaptive, in case demand for your skills wane (as law students are finding out).  Being highly specialized will always have its benefits, but it also bears repeating that it also has its negatives.

2) Drive. There will be continue to be extraordinary demand for those “strongly motivated to succeed”.  Drive is what inspired the Egyptian people on their recent successes (ousting their dictator of 30 years, Hosni Mubarak).

Drive is the difference between giving up at your darkest moments, or continuing to fight on, giving everything you’ve got.  For the world to rid itself of central bankers and fiat currency will definitely require maximum drive!

3) Health. The greatest wealth is a good health, goes the saying.  And for good reason.  Health is something we rarely give a thought to, until sickness inevitably rears its head!  Digits on a computer screen can pay for surgery and medical treatment, but fresh air, clean water and exercise (and good food!) are your best friends when it comes to staying healthy, and preventing illness.

4) Peace of Mind. Living an honest life pays for itself in spades, when one considers the lack of peace of mind that accompanies dishonesty (except for people who do not feel remorse, of course)!

5) Time. Again, you could have all the material wealth in the world, but without the time to enjoy it, its value is effectively NIL. Leisure time is a concept that originally referred to a lot more than just listening to music, suntanning, fishing, and going skiing (fantastic leisure activities that they are).

Leisure time in the 19th century also referred to time spent philosophizing  and attempting to improve human society.  A natural corollary of this would be that for the world (or society) to be improved, more ‘leisure time’ will be needed.

6) Human Relationships.  Last, but certainly not least, meaningful relationships are one of the greatest forms of wealth.  If you need any proof of this, remember the maxim ‘Its not what you know, its who you know”.

The people who currently run the world (of finance, and business, at least) achieved their lofty positions (Treasurer, Fed Chairman, etc.) by way of who they knew, not what they knew.  Why are Princeton, Harvard, Yale graduates in nearly all positions of power?

Why are the heads of atleast a dozen central banks Goldman Sachs alumni???  Clearly it is because of who you meet, while on Wall St/in the Ivy League/at secret society meetings.

“Active collusion isn’t necessary.  Jackals, hyenas, vultures, wild dogs – none of them collude but there actions conspire to the same end.”

Clearly, if those in power are using networking to the utmost, to remove them from power will require similar networking.