I tend to believe that we live in a neo-mercantilist world where people equate wealth with "having a lot of money". The more money you have, the richest you are certainly; but does this make you wealthy?
A lot of corrupt African kleptocrats, Middle Estearn crony royalties, and Western corporate welfare recipients are all " rich"; that is made up of billionaires driving the latest luxury cars and enjoying their private jets. Yet, are these individuals " wealthy" or are they merely " pirates" and " plunderers"? I think, from an economic point of view, that a wealthy individual is someone who adds value to society. The successful free market entrepreneur, who, through sheer determination, self-sacrifice, dedication, and patience manage to revolutionize the way people live with his " product" or " service" represent for me the real wealthy individual. Very few people have revolutionized our world the way JD Rockefeller, Henry Ford, Bill Walton, Bill Gates and the Google gang have. These individuals, hailing from their own unique backgrounds have contributed more to the improvement of societal life than all the Pharaohs and presidents of history combined! America, despite its political mess, has produced more value and wealth through the innovative and revolutionary culture of its entrepreneurs, than any other Nation in history. It is its culture of entrepreneurship that has allowed the United State to remain ahead, not the vision of its political leaders.
Wealth therefore need a culture that feeds upon it, that allows it to be cultivated and taught ( if that is even possible).
The aim is not necessarily to be rich I believe; the aim " should be" to be a productive value creating person who can participate in the improvement of society.
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