Aristotle describes the basic function of money as a universal instrument of quantitative measurement – “for it measures all things […]”– making things alike and comparable due to a social "agreement" of acceptance.In that way, money also enables a new type of economic society and the definition of wealth in measurable quantities.
In the Roman Empire, just as in modern colonialism, the main force behind the conquest of countries was the exploitation and accumulation of wealth in quantitative values like gold and money.
Modern philosophers like Nietzsche criticized the fixation on measurable wealth: "Unsere ‘Reichen' – das sind die Ärmsten! ”) In economics, wealth (in a commonly applied accounting sense, sometimes savings) is the net worth of a person, household, or nation, that is, the value of all assets owned net of all liabilities owed at a point in time.
The wealth of households amounts to USD 291 trillion (2013) and is estimated to increase by 55% in five years. The Credit Suisse Wealth Report (mid-2013) estimated that, once debts had been subtracted, an adult required just USD 4,000 in assets to be within the wealthiest 50% of world citizens.
However, at least USD 75,000 was needed to reach the top 10%, and USD 753,000 to belong to the most wealthy 1%.
Wealth is the abundance of valuable resources or valuable material possessions.