Wealth refers to the total value of assets owned by an individual or entity, such as property, investments, and savings.
Income, on the other hand, refers to the flow of money earned through work, investments, or other sources over a specific period.
Think of it like a bathtub: wealth is the water already in the tub, while income is the water flowing in through the faucet.
Wealth provides a sense of security and financial stability, while income is what's used to meet daily expenses and maintain a certain standard of living.
For example, someone might have a high income but low wealth if they spend most of their earnings, while someone with a lower income might have higher wealth if they've built up assets over time.
Would you like to know more about how wealth and income interact, or how they might be affected by concepts like Universal Basic Income or cryptocurrency?
Can you compare universal basic income to universal basic assets, listing the pros and cons of each?
can you list the differences between the concept of universal basic income and universal basic assets?
What is a post monetary society according to the theory?
What factors could lead to a post monetary society?