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However, such an amount would constitute an extraordinary amount of wealth in impoverished developing countries. Modern labor-saving inventions and the development of the sciences have vastly improved the standard of living in modern societies for even the poorest of people.

This comparative wealth across time is also applicable to the future; given this trend of human advancement, it is possible that the standard of living that the wealthiest enjoy today will be considered impoverished by future generations. Machines replaced some workers while other workers became more specialized.

This "produce" is, at its simplest, that which satisfies human needs and wants of utility.

In popular usage, wealth can be described as an abundance of items of economic value, or the state of controlling or possessing such items, usually in the form of money, real estate and personal property.

When a valuable or desirable commodity is in scarce supply, the owner of the commodity will possess great potential for wealth.

Der eigentliche Zweck alles Reichtums ist vergessen! For national wealth as measured in the national accounts, the net liabilities are those owed to the rest of the world.

Economic terminology distinguishes between wealth and income.

Wealth can be categorized into three principal categories: personal property, including homes or automobiles; monetary savings, such as the accumulation of past income; and the capital wealth of income producing assets, including real estate, stocks, bonds, and businesses.

All these delineations make wealth an especially important part of social stratification.

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