I’ve noticed a pattern, that wealth is privacy. If you take for example how people live.

  1. Homeless, outdoors. No privacy at all.
  2. Shared apartment
  3. Private apartment with shared outdoor space
  4. Private house
  5. Gated community
  6. Gated private estate

Or how people travel.

  1. Walking in the street in full public view
  2. On a bus or train or aeroplane
  3. In a car
  4. In a private convoy surrounded my staff, or in a private jet.

The poorest are always in public, in everything they do. The wealthiest are never seen, except when they choose to appear. There is a continuum in between of increasing wealth meaning increasing privacy.

But there are other possible perspectives. Wealth is the freedom to waste.

With wealth you can buy many things and leave them idle or dump them. You can travel and live and eat in wasteful ways. You can hire people to work for you, doing things you don’t really need.

Things which are expensive are (to a large extent) so because their production is wasteful. The rich can utilise more expensive things.

So the problem with too much global consumption - too much emissions, electricity usage, mining, etc - is really a problem of too many rich people. There is no point restricting or banning these things - people will just find other ways to be wasteful - maybe even worse ones. The only way to solve these crisis is reduce wealth, by reducing inequality.

Wealth is power over people. Wealth is required to compel people to do things, to directly pay them to do your bidding, or to access the fruits of hours of labour through purchases. There is also bribery, access to lawyers etc, which allow more wealthy people to exert more power over their peers and society.

Are there other ways to understand wealth?