Ace of Spades HQ: Say's Law of Markets, And Why Money and Wealth Are Not the Same Thing

Ace of Spades HQ: Say's Law of Markets, And Why Money and Wealth Are Not the Same Thing

"So what is "wealth", really? (I could write a whole book on the difference between "wealth" and "money", but I'll try to boil it down.) Wealth is options. Wealth is choice. Wealth is variety. Wealth is agency - being able to do what you want to do when you want to do it. Wealth is surfeit - having more than the essentials of life. It is comfort, leisure, ease - or at least the agency and option (those words again) to avail oneself of leisure. Simply put, wealth is stored value that can be drawn down in various ways, only some of which involve the exchange of money for goods and services. And how is wealth created? Through production, because production must necessarily precede consumption."