August 2008 also updated
This article is based on the premise that the
reader lives in a society
In a well governed country,
poverty is something to be ashamed of.
In a badly governed country, wealth is something to be
The word wealth
derives from the old English
word "weal", which means "well-being".
"Wealth" can be described as an abundance of items of economic
value, or the state of controlling or possessing such items, usually
in the form of money, real estate and personal property. In many
countries wealth is also measured by reference to access to
essential services such as health care, or the possession of crops
and livestock. An individual who is wealthy, affluent, or rich is
someone who has accumulated substantial wealth relative to others in
their society or reference group.
Before I list the jobs and professions I consider
create or don’t create the real wealth of the world let’s just
consider the Wikipedia definition of wealth above. You will see that
money is placed first in the order of the items by which wealth is
measured, in my opinion it should be included last, if at all.
While money can to some extent represent wealth
its value is arbitrary. The amount of money required to convert it
into real estate or personal property varies according to its
current value. Something costing $100 this year might well cost $110
next year. The item is still worth the same in terms of what it cost
to design, produce and bring to the market place, only the value of
the money has changed. One of the reasons for the volatility of
the value of money is covered in my blog ‘A Bankers Tale’.
The real wealth of any country is what it produces, all the things
that money can buy. If the amount of money in any system is doubled
(the banks are very good at this), then given that there are still
the same amount of things in the system that money can buy then the
price of those things has to double to maintain the balance between
money supply and things. Basic economics, but it has to be
So money is really only a measure of wealth when
it is actually spent on real estate and/or personal property. In
reality, almost without exception, the wealth of others is
measured by what they can be seen to own, their house, car,
televisions, music system, yacht etc-etc. Someone living meagerly in
a hovel with say a million in the bank would not appear to be
wealthy at face value, and his money is worthless until it is spent.
In other words real wealth is represented by
things, all the things
we own and see around us that other people own, every building in every town and city,
every vehicle on the roads, every bridge we cross even all the
clothes we wear and of course the things in the marketplace
available for purchase. So if wealth is things, it follows that
the real wealth in the system is
created only by those people that make the things.
So there you have it.
THE REAL WEALTH CREATORS (Society's Providers)
People in the front line of real wealth creation:
- Manufacturing workers.
- Construction workers.
- Farm, fishing and food production and processing workers.
WEALTH CREATION SUPPORT WORKERS
(Wealth Creation Supporters)
People in the following sectors provide essential support to the
front line producers but do not create any actual real wealth
themselves. Nevertheless, without these support services the
Wealth Creators would not be able to design, market, distribute, advertise
or sell the things they make.
- Product and building designers.
Manufacturing, construction and agricultural management.
Transportation and warehousing.
Education and health services.
Leisure and hospitality services.
Public utility workers.
Real estate services.
Rental and leasing services.
WEALTH MANIPULATORS (The Takers)
People in the sectors listed below create absolutely no real wealth in the community, they
are essentially parasites, they just manipulate the wealth that has
already been created by others. The financial institutions have over
a period of many years established ever more sophisticated systems to maximize the stripping of real wealth out of the
system by creating false wealth using a variety of anti-social
financial instruments. Not only do they steal from the community at
large but from each other such is the magnitude of their avarice. Ironically people in this sector are usually the richest
in any society, so devious and efficient have their 'real wealth'stripping
- Monetary authorities (Central banks).
- High Street banks.
- Commercial banks.
- Credit intermediation and related activities.
- Depositary credit intermediaries.
- Government employees (excluding public service workers).
- Securities and investment brokers.
- Insurance carriers and related activities.
- Fund, trust, and other financial institutions.
- Lessors of intangible financial assets.
- Hedge fund managers.
- Are You A Producer?
Who creates the ‘real wealth’ in the world?
- The Stealing Bankstards
- Wealth Creation and Social
Parasites [A Poster]
Update to Wealth
I think perhaps my original article was a little
unclear regarding the definition of 'wealth'. What
is generally accepted as wealth is
represented by physical commodities, nothing else
represents real wealth. Money does not represent
wealth; the production of money in all its forms
bears no relationship to the effort and expertise
that went into producing the commodities. In
particular, perhaps I did not make myself clear
enough when talking about the intrinsic wealth that
goes into the production of every commodity. Each
item that represents wealth does of course include
elements of what creates real wealth. The percentage
of each wealth element does of course vary depending
on the item.
Original idea and concept
Design [including software]
Management and organization
Intellectual elements are not wealth until their
potential is realized and become an intrinsic part
of the physical item/s that represent wealth. Now
some may argue that the works of Shakespeare while
they were just an idea in his head were wealth. They
were not, not until the thoughts were spoken,
written down, transcribed into books or any other
form of distribution and made available to society.
An army of intellectuals is nothing until it
[Of course it could be argued that Shakespeare
would have been personally wealthy if he had just
kept his works in his head, but he would not have
been wealthy in a social sense, intellectually or
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