Wealth: Meanings and Interpretations

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Table of Contents

Introduction
Wealth is as combination of material and spiritual values
The subjectivity of the term of wealth
The state of being wealthy
Conclusion

Introduction

This essay aims to analyze the meanings and interpretations of such words as wealth. Traditionally, this term (along with its derivatives) is understood as a large amount of money or valuable material possessions. Furthermore, this word is often viewed as an abundance of financial resources. To some extent, such an approach may be quite plausible especially in terms of economics but probably it narrows down the meaning of this term. According to the definition proposed in this paper, wealth is a combination of both spiritual and material values that a person has or thinks to have. This abstract idea is subjective at its core and each individual can measure it according to his or her standards. Judging from that, it is quite possible to say that this notion also implies the state of mental health and financial prosperity. Of course, one cannot presume that this definition is conclusive. Others may easily disagree with it arguing that universally accepted interpretation is more accurate and concise, but any abstraction tends to be complex and multi-faceted and it normally has several layers of meaning.

Wealth is as combination of material and spiritual values

In the first part of this definition, we advocate the opinion that this word is closely associated with spirituality. The first reason is purely linguistic because in English as well as in many other languages, there is such an expression as spiritual wealth which means that people focus not only on financial aspects of their well-being. Secondly, many ancient and modern philosophers such as Plato, Aristotle, Nietzsche, or Werner Krieglstein maintain that a human being has both physical and mental needs. Consequently, he or she seeks various resources to meet or saturate these demands. Certainly, it is impermissible for us to argue that wealth does not include money or that money is of no importance. Such a statement is hypocritical or self-deceptive. People, who are deprived of material possessions, may be reduced to an animal state and this involves moral degradation. One cannot deny the significance of financial resources; they help to maintain existence, make it more comfortable and satisfactory. However, people who think only about them eventually become enslaved by this obsession. There are many examples in literature and cinematography that substantiate this point of view. We may remember Honoré de Balzacs Gobseck, in which the author describes the life of a miser for whom money becomes the ultimate goal and this leads him to his destruction. Financial resources should be regarded only as a means to reach some aim or as a way to strengthen one’s position in society. However, they should not be considered as the aim, itself. People, who commit such errors, are brilliantly satirized by Walt Disney especially in his cartoon character Scrooge McDuck, who sets money above everything else and gets into a lot of difficulties mostly because of this passion for material values.

The subjectivity of the term of wealth

Then the question arises what exactly spiritual values include. How can they be identified? And do they exist? The most difficult thing is that they are immaterial, and cannot be shown using numbers, diagrams, graphics, tables, etc; they cannot be described as physical objects. And most importantly, these values are always dynamic because each man defines them in his way. Probably, these are those aspects of our life that give us stimulus and desire to live, for instance, hope, love, friendship, sense of humor, empathy. This list can further continue and it is virtually endless because everyone can easily add some new points which have not been mentioned before.

The state of being wealthy

As it has been previously noted, there are no criteria according to which people can measure wealth, because this term is subjective. In the vast, majority of cases, perception of oneself may vary and every person has one’s standards. Naturally, in terms of economics, some parameters help to assess the level of well-being and prosperity. But there are not always applicable because economics studies only quantitative but not qualitative data. Therefore, a wealthy man believes himself to be wealthy. Perhaps, such a philosophy is the only way to avoid inferiority complex or any other mental disorders that occur when people start thinking about the richest men on the planet.

Conclusion

On the whole, the notion of wealth has always been a subject of heated debate by economists, sociologists, psychologists, and so forth. We cannot presume that this debate will ever come to its end. The major difficulty in defining this is that it can be described only by other abstract notions, and this interpretation is not an exception. It is much easier to speak about concrete objects or living creatures that perform functions or activities in some manner. But the situation is much more complicated with the concept of wealth because it varies from one individual to another. Nevertheless, we can insist that wealth or richness should not be limited only to material values or material resources, because this word also includes spiritual well-being.

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Wealth: Meanings and Interpretations

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