The Differences Between Wealth and Prosperity
Often, when people think of wealth and prosperity, they envision themselves with lots of money in their bank account. However, wealth is much more than money. It can include happiness, health, and a rich social life. Ultimately, wealth is what you take with you when you leave this earth. Those who are wealthy are generally those who enjoy life.
The theory of value must account for time in the process of value creation, consumption, and transfer. Adam Smith recognized this linkage and embraced the labor theory of value, arguing that the production and consumption of commodities are tied to time. He also argued that the value of land is contingent upon its productivity. Thus, wealth is created when land is worked. While this may seem counterintuitive, the theory of value and wealth cannot ignore this connection.
As a result, it’s crucial to learn how to make money and invest it wisely. Once you understand how wealth works, you can set goals that help you attain that goal. Learning every day is a vital part of this process. You can use these goals to guide your own personal growth. For example, you may want to focus on improving your health.
In addition to money, prosperity is about your total life and your financial prospects. Whether you are rich or poor, you must be successful to be prosperous. However, wealth and prosperity are often associated, but they are not one and the same. Wealth is not about money alone; it also involves a sense of happiness and stability.
Prosperity is often overrated. It prevents us from feeling the pain of sin. For many, prosperity protects us from seeing that we are alienated from God. Religious institutions often promote prosperity, which prevents people from understanding their separation from God. As a result, wealth and religion often lead us to forget about eternity.
Likewise, the free market has made it possible for us to buy a wide range of cheap food for the lower and middle-class. Even more, it has made it possible for us to access a cornucopia of agricultural wealth in American supermarkets. And the free market also allows us to have freedom from debt and government.
While people do share a lot of things in common, we all have our own individual perspectives and values. That means that our own values and desires are best judged by us and not by others. Hence, we should value our own personal freedom and be true to ourselves. That way, we can better understand and appreciate the values we hold dear. This will lead to our own individual happiness. So, we should be prepared to work hard and be patient while building our own prosperity.