These people are our future

[Lyric]

Having a huge box of money, gold or diamonds is not having a huge box of wealth though.

And two people can start with nothing but the sweat producers of their brows, one can generate less wealth but have a bigger box of money in time.

It may be that I'm just talking about wealth holders and wealth generators, but it seems like a more clear understanding when I think of money and wealth as separate and uncoupled.

A huge box of gold and diamonds is wealth. Gold and diamonds hold value to other people -- the definition of wealth. Wealth = something valued by other people. It includes literally anything we are willing to work or trade to get, including food, housing, medicine, gold, money, diamonds, computers... anything.

Yes, two people can generate the same amount of wealth and be differently compensated. The only reason this exists is because of forced restrictions on free exchange. With no restrictions wealth generated can be traded for its exact value to society, but with each trade quality of life goes up exponentially.

We can see this with Bill Gates, who created much more value than the 30 billion he now holds. The world would not give up what he created in exchange for 30 billion dollars; it is worth much more to us now.

[a500lbgorilla]

A huge box of gold and diamonds is wealth. Gold and diamonds hold value to other people -- the definition of wealth. Wealth = something valued by other people. It includes literally anything we are willing to work or trade to get, including food, housing, medicine, gold, money, diamonds, computers... anything.

Yes, two people can generate the same amount of wealth and be differently compensated. The only reason this exists is because of forced restrictions on free exchange. With no restrictions wealth generated can be traded for its exact value to society, but with each trade quality of life goes up exponentially.

We can see this with Bill Gates, who created much more value than the 30 billion he now holds. The world would not give up what he created in exchange for 30 billion dollars; it is worth much more to us now.

I would much prefer a huge box of gold or diamonds be considered riches. That they hold monetary value to other people, but they do not hold the same value of wealth.

It doesn't make sense to me that one diamond can represent 1000 units of wealth, is a part of what I'm getting at. Though you could trade it for 1000 houses, which we've demonstrated are the wealthy organization of resources, that doesn't necessitate that the holding of a diamond in you hand means you're as wealthy as 1000 houses, but that you're as rich as 1000 houses.

edit, that by holding a diamond, you haven't created/hold the wealth of 1000 houses, but you have enough money to purchase 1000 houses.

[Lyric]

I would much prefer a huge box of gold or diamonds be considered riches. That they hold monetary value to other people, but they do not hold the same value of wealth.

It doesn't make sense to me that one diamond can represent 1000 units of wealth, is a part of what I'm getting at. Though you could trade it for 1000 houses, which we've demonstrated are the wealthy organization of resources, that doesn't necessitate that the holding of a diamond in you hand means you're as wealthy as 1000 houses, but that you're as rich as 1000 houses.

edit, that by holding a diamond, you haven't created/hold the wealth of 1000 houses, but you have enough money to purchase 1000 houses.

Owning a diamond = owning 1,000 houses if they are exchangeable. Owning a diamond does not equal creating a diamond, just as owning 1,000 homes is not the same as building those homes. It is not relevant how the diamond or homes were created; they are still both equally valued and if one man owns 1,000 homes and another owns a diamond worth 1,000 homes the two are equally wealthy.

You seem to be arbitrarily counting houses as wealth but money, diamonds, and gold as something else because they are not "useful." If they can be traded diamonds are as useful as 1,000 houses to the person who trades 1,000 of his houses for your diamond.

Your judgment of value and usefulness is only your judgment. Others have their own determinants of usefulness that won't match with yours, and this is one reason that trading can make you both better off; you both think you got a better deal.

Paper money has no value per se, but holds value to the man who trades his home for paper because there is as much demand (from other people) for the paper as there exists for his home.

The value (price) of wealth (diamonds, gold, houses, money, food, art) is determined by its usefulness to human beings, and each person has his own judgments.