4 ms·
Wealth is a claim on the output of society. It's very hard to store wealth outside of society. Actual stored wealth: * precious metal and fossil fuels, etc *
by graeme 7y ago
Wealth is a claim on the output of society. It's very hard to store wealth outside of society. Actual stored wealth:
* precious metal and fossil fuels, etc
* seeds, canned goods, grain reserves
* Buildings, wells, physical infrastructure on the land
* tools etc that last through time
Money is only useful to the extent it can buy things. If civilization collapses, then that's a destruction of wealth.
If output merely diminishes, that's also a destruction of wealth. It will still be better to be rich than to be poor, but even the rich depend on what society produces.