The Metaphysics of Wealth
Open AccessThis thesis focuses on the objective nature of wealth in the context of economic science. An analysis of uses and definitions of wealth finds that scientific uses of the term “wealth” are ill-defined and includes claims about money’s relationship to and measurement of wealth. In each examined interpretation of money’s plausible connection to the definitions of wealth, I find numerous contradictions that indicate money and wealth’s inability to function in the way economic science purports. To understand the nature of wealth and create a robust definition of the term, I search for a trait shared by all things that constitute economic wealth. I find that this commonality is the objective ability to accomplish tasks, inherent to the properties of items of wealth. Further analysis indicates that we cannot directly compare wealth quantities across different tasks and that the relevant measure for this comparison of wealth is its limiting factor, labor.
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