physical capital

Wealth is an abundance of items of economic value, or the state of controlling or possessing such items, and encompasses money, real estate and personal property. In many countries wealth is also measured by reference to access to essential services such as health care, or the possession of crops and livestock. An individual who is wealthy or rich is someone who has accumulated substantial wealth relative t ...

Including:

• Wealth - Wealth and poverty
• Wealth - The anthropological view of wealth
• Wealth - A rudimentary notion of wealth
• Wealth - The interpersonal concept of wealth
• Wealth - Wealth as the accumulation of non-necessities
• Wealth - Wealth as control of arable land
• Wealth - The capitalist notion of wealth
• Wealth - Other concepts of wealth
• Wealth - Global wealth
• Wealth - Not a zero-sum game
• Wealth - The non-normative concept of wealth
• Wealth - Non financial wealth
• Wealth - Wealth as time
• Wealth - Sustainable Wealth
• Wealth - Wealth Redefined Individualistically
• Wealth - The creation of wealth
• Wealth - The limits to wealth creation
• Wealth - The distribution of wealth
• Wealth - Wealth in the form of land
• Wealth - Books

Read more here: » Wealth: Encyclopedia - Wealth

Capital has a number of related meanings in economics, finance and accounting. In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business. Initially, it is assumed here that other styles of capital, e.g. physical capital, can be acquired with money or financial capital, so there is little need here for any further analysis of the latter. So below, the word "capital" is short-hand for "real capital" or "capital goods" or means of production. Also to be ignored wi ...

Including:

• Capital economics - Capital in classical economic theory
• Capital economics - Broadening the definition of capital

Read more here: » Capital economics: Encyclopedia - Capital economics

Commodity money is money whose value comes from a commodity out of which it is made. Examples of commodities that have been used as money include gold, silver, copper, salt, large stones, decorated belts, shells, cigarettes, and candy. Commodity money is to be distinguished from representative money which is a certificate or token which can be exchanged for the underlying commodity. A key feature of commodity money is that the value is directly perceived by the users of this money, who recognize the utility or beauty of the tok ...

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Central to environmental economics is the concept of an externality. This means that some effects of an activity are not taken into account in its price. For instance pollution in excess of the socially "optimal" level may occur if the prices a producer pays do not include the impacts (costs) experienced by those adversely affected by the pollution. Too little nature conservation may occur if those who undertake such activities are not rewarded in relation to the increase in the quali ...

See also:

Environmental economics, Environmental economics - Topics and concepts, Environmental economics - Solutions, Environmental economics - Alternative approaches to environmental economics, Environmental economics - Prominent Environmental Economic Hypotheses and Theorems

Read more here: » Environmental economics: Encyclopedia II - Environmental economics - Topics and concepts

Factors of production - Classical view as the base of microeconomic theory. Although it did not deal substantially with complex issues of a sophisticated modern economy, the classical theory remains useful to the present day as the basis of microeconomics, however many distinctions one cares to make or macro-theory or political economy one chooses to apply to trade them off or set their valuations in society at large. Land has become natural capital, imitative aspects of Labor have become instructional cap ...

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Factors of production, Factors of production - Developments and Alternative views, Factors of production - Classical view as the base of microeconomic theory

Read more here: » Factors of production: Encyclopedia II - Factors of production - Developments and Alternative views

Traditional economic theory generally viewed capital as physical items, such as tools, buildings and vehicles that are used in the production process. Other economists have focussed on broader forms of capital. For example, investment in skills and education can be viewed as building up human capital. Some theories use the terms intellectual capital or knowledge capital which lead to certain questions and controversies discussed in those articles. In general, intellectual capital is that which produces new " intellectual proper ...

See also:

Capital economics, Capital economics - Capital in classical economic theory, Capital economics - Broadening the definition of capital

Read more here: » Capital economics: Encyclopedia II - Capital economics - Broadening the definition of capital

Wealth - Global wealth. Michel Foucault commented that the concept of Man as an aggregate did not exist before the 18th century. The shift from the analysis of an individual's wealth to the concept of an aggregation of all men is implied in the concepts of political economy and then economics. This transition took place as a result of a cultural bias inherent in the Enlightenment. Wealth was seen as an objective fact of living as a human being in a society. ...

See also:

Wealth, Wealth - Wealth and poverty, Wealth - The anthropological view of wealth, Wealth - A rudimentary notion of wealth, Wealth - The interpersonal concept of wealth, Wealth - Wealth as the accumulation of non-necessities, Wealth - Wealth as control of arable land, Wealth - The capitalist notion of wealth, Wealth - Other concepts of wealth, Wealth - Global wealth, Wealth - Not a zero-sum game, Wealth - The non-normative concept of wealth, Wealth - Non financial wealth, Wealth - Wealth as time, Wealth - Sustainable Wealth, Wealth - Wealth Redefined Individualistically, Wealth - The creation of wealth, Wealth - The limits to wealth creation, Wealth - The distribution of wealth, Wealth - Wealth in the form of land, Wealth - Books

Read more here: » Wealth: Encyclopedia II - Wealth - Other concepts of wealth

Anthropology characterizes societies, in part, based on a society's concept of wealth, and the institutional structures and power used to protect this wealth. Several types are defined below. They can be viewed as an evolutionary progression. Wealth - A rudimentary notion of wealth. Great Apes seem to have notions of "turf" and control of food-gathering ranges, but it is questionable whether they understand this as a form of wealth. They acquire and use limited tools but these objects typically do not chan ...

See also:

Wealth, Wealth - Wealth and poverty, Wealth - The anthropological view of wealth, Wealth - A rudimentary notion of wealth, Wealth - The interpersonal concept of wealth, Wealth - Wealth as the accumulation of non-necessities, Wealth - Wealth as control of arable land, Wealth - The capitalist notion of wealth, Wealth - Other concepts of wealth, Wealth - Global wealth, Wealth - Not a zero-sum game, Wealth - The non-normative concept of wealth, Wealth - Non financial wealth, Wealth - Wealth as time, Wealth - Sustainable Wealth, Wealth - Wealth Redefined Individualistically, Wealth - The creation of wealth, Wealth - The limits to wealth creation, Wealth - The distribution of wealth, Wealth - Wealth in the form of land, Wealth - Books

Read more here: » Wealth: Encyclopedia II - Wealth - The anthropological view of wealth

An entire lack of any kind of wealth may constitute poverty, although the opposite of poverty may be sufficiency (in terms of food, shelter, education and healthcare) rather than the abundance implied by wealth. The eradication of extreme poverty around the world is one of the major Millennium Development Goals which all member states of the United Nations seek to achieve by 2015. ...

See also:

Wealth, Wealth - Wealth and poverty, Wealth - The anthropological view of wealth, Wealth - A rudimentary notion of wealth, Wealth - The interpersonal concept of wealth, Wealth - Wealth as the accumulation of non-necessities, Wealth - Wealth as control of arable land, Wealth - The capitalist notion of wealth, Wealth - Other concepts of wealth, Wealth - Global wealth, Wealth - Not a zero-sum game, Wealth - The non-normative concept of wealth, Wealth - Non financial wealth, Wealth - Wealth as time, Wealth - Sustainable Wealth, Wealth - Wealth Redefined Individualistically, Wealth - The creation of wealth, Wealth - The limits to wealth creation, Wealth - The distribution of wealth, Wealth - Wealth in the form of land, Wealth - Books

Read more here: » Wealth: Encyclopedia II - Wealth - Wealth and poverty

Wealth is created through several means. Natural resources can be harvested and sold to those who want them. Material can be changed into something more valuable through proper application of knowledge, skill, labor and equipment. Better/smarter production methods also create additional wealth by allowing faster creation of wealth. Ideas create additional wealth by allowing it ...

See also:

Wealth, Wealth - Wealth and poverty, Wealth - The anthropological view of wealth, Wealth - A rudimentary notion of wealth, Wealth - The interpersonal concept of wealth, Wealth - Wealth as the accumulation of non-necessities, Wealth - Wealth as control of arable land, Wealth - The capitalist notion of wealth, Wealth - Other concepts of wealth, Wealth - Global wealth, Wealth - Not a zero-sum game, Wealth - The non-normative concept of wealth, Wealth - Non financial wealth, Wealth - Wealth as time, Wealth - Sustainable Wealth, Wealth - Wealth Redefined Individualistically, Wealth - The creation of wealth, Wealth - The limits to wealth creation, Wealth - The distribution of wealth, Wealth - Wealth in the form of land, Wealth - Books

Read more here: » Wealth: Encyclopedia II - Wealth - The creation of wealth

All of the above are advocated by the specific theory of Natural Capitalism (Hawken, Lovins, Lovins). The book goes further by envisioning a world where natural services are considered on par with physical capital. Another context in which externalities apply is when globalization permits one player in a market who is unconcerned with biodiversity to undercut prices of another who is - creating a "race to the bottom" in regulations and conservation. This in turn may cause loss of natural capital with consequent erosion, water purity p ...

See also:

Environmental economics, Environmental economics - Topics and concepts, Environmental economics - Solutions, Environmental economics - Alternative approaches to environmental economics, Environmental economics - Prominent Environmental Economic Hypotheses and Theorems

Read more here: » Environmental economics: Encyclopedia II - Environmental economics - Alternative approaches to environmental economics

Different societies have different opinions about wealth distribution and about the obligations related to wealth, but from the era of the tribal society to the modern era, there have been means of moderating the acquisition and use of wealth. In ecologically rich areas such as those inhabited by the Haida in the Cascadia Pacific East Rim ecoregion, traditions like potlatch kept wealth relatively evenly distributed, requiring leaders to buy continued status and respect with giveaways of wealth to the poorer members of so ...

See also:

Wealth, Wealth - Wealth and poverty, Wealth - The anthropological view of wealth, Wealth - A rudimentary notion of wealth, Wealth - The interpersonal concept of wealth, Wealth - Wealth as the accumulation of non-necessities, Wealth - Wealth as control of arable land, Wealth - The capitalist notion of wealth, Wealth - Other concepts of wealth, Wealth - Global wealth, Wealth - Not a zero-sum game, Wealth - The non-normative concept of wealth, Wealth - Non financial wealth, Wealth - Wealth as time, Wealth - Sustainable Wealth, Wealth - Wealth Redefined Individualistically, Wealth - The creation of wealth, Wealth - The limits to wealth creation, Wealth - The distribution of wealth, Wealth - Wealth in the form of land, Wealth - Books

Read more here: » Wealth: Encyclopedia II - Wealth - The distribution of wealth

In classical economics, capital is one of three factors of production, the others being land and labour. Goods with the following features are capital: It can be used in the production of other goods (this is what makes it a factor of production). It is human-made, in contrast to "land," which refers to naturally occurring resources such as geographical locations and minerals. It is not used up immediately in the ...

See also:

Capital economics, Capital economics - Capital in classical economic theory, Capital economics - Broadening the definition of capital

Read more here: » Capital economics: Encyclopedia II - Capital economics - Capital in classical economic theory