Page 1 Dennis Droste
Karen Lawler
English 101 l025 Spr.17
14 May 2017 Hi Dennis, You did well on your paper.
Defining your term, giving some examples, and staying organized paid
off for you. At times your paragraphs are too brief; you need examples
of the people you write about; also please vary your sentence starts and
try and use less is and are—active verbs make for crisper sentences.
Thank you! Wealth
Try for a more creative title and introduction.
Wealth is the totality of all tangible and intangible assets of a person or society as a
whole. The wealth of society in the traditional sense, which goes back to the founders of the
classical school (Adam Smith, David Ricardo, etc.), was considered as a set of material goods
accumulated by the papers both previous and present generations. The classical economists
were the first to study the term of wealth and its accumulation. Adam Smith developed the
theory about the nature of capital and its methods of multiplication. Continuing development
of the views of Smith, David Ricardo, has added to the existing theory supplement on
international trade and land rent. Thomas Malthus first pointed out rapid population growth
as a threat to the welfare of the country as a whole Cite these sources, with every
sentence.John Stuart Mill deepened the concept of his predecessors; he gave the rationale for
the existence of the free market as a necessary component of economic growth that increase
the welfare of people and society as a whole. Page 2 Different definitions of wealth claimed by different people and in a variety of
contexts. In fact, the concept of wealth is a normative process with completely different
ethical values. Different people have used the term with different meanings and, more
importantly, with different intentions (Fry, 17). Your citations look good but this paragraph is too brief. Give exact examples of people with wealth, perhaps?
Modern economic science is critical to the provision only of one material content of
wealth. At the moment the most appropriate is another approach to understanding this
category, namely, that wealth is everything that people appreciate. With such a definition of
wealth natural resources and innate abilities, and professional knowledge and free time can be
attributed to it. From the point of view of the theory, this definition of wealth allows
enlightening the different nuances of this economic category. On the other hand, when it
comes to international comparisons of national wealth and statistical calculations, such a
broad definition of wealth complicates (if not eliminates) the process of counting specific
numbers. It is also necessary not to forget that all the wealth of society can be represented
either in cash or in natural form. Therefore, when the economical process changes the value
of money itself can come to different evaluations of the same set of material goods. In
addition, the change in the estimates of the people themselves can lead to changes in the
Spacing? actual size of wealth of a particular country. Page 3 It is necessary to note once again that the understanding of a wealth largely depends
on the rating of people. This is largely a normative category, and beyond the judgment of
people about the value of any benefit does not exist. Also, wealth can be thought of as all that
expands the choices of man, his alternative possibilities. From this point of view, money and
things, and free time, and natural resources, and knowledge expand the choices people make
and can be equated to wealth.
This definition must always be considered in the context of the needs. For example, if
benefits are available in the quantities in which they are able to meet all people's needs to full
saturation are available, then it is possible to say that they are rich. Who would be this
person? Examples? But more and more attention is paid to the normative context in the
definition of wealth. High moral wealth generally makes people feel positive and good about
their purpose in the world (Lee, 29). How rich is a millionaire who is confined by illness to
his bed and lost physical and mental capacity? How rich is a yoga, which needs a minimum
of food and is busy with the realization of God? What means a quite popular expression "the
main wealth is freedom" or "the main wealth is health"? Is it possible to be free while not
having the amount of wealth, which is called the cost of living?
All of these issues in the analysis of the notions of wealth are placed in order to
emphasize the importance of normative evaluation categories in economic theory.
The conclusion is that in fact, that the rich people are only those who can afford to
live the life that they want. The richness of their life consists of the abundance which they
imagine. List of sources: Call this page, Works Cited, and put it in alphabetical order. Page 4 Lee, John, 2015. The Wealth Dragon Way: The Why, the When and the How to Become
Infinitely Wealthy. New-Jersey: John Wiley & Sons.
Fry, Renee, 2011. Sovereign Wealth: The Role of State Capital in the New Financial Order.
Singapore: World Scientific. You need APUS Library sources.

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