wealth(redirected from Material wealth)
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wealththe value of the resources possessed by an individual or a society (compare CAPITAL).
An important issue in any society is the distribution of wealth within it. Usually, in all but the simplest of societies, the ownership of wealth is unequal, and the degree to which this is so is an important differentiating feature of types of society. In the modern world advanced industrial societies generally manifest less inequality of income than less developed societies, but inequalities in the distribution of wealth remain great, although these are often difficult to quantify, given the tendency of wealth to go often unreported – e.g. at the time of death -because it is subject to taxation.
The massive inequality in wealth which exists between societies – especially between FIRST and THIRD WORLD societies – is, of course, also a major feature distinguishing between nation states in the modern WORLD SYSTEM, and a major aspect of the potential economic and political instability of this system.