Wealth creation is the accumulation of assets and property over what is required for survival. Through reinvesting the surplus, wealth is further created. This is generally thought to apply to individual or corporate wealth. Can wealth creation apply to society as a whole?
Societal wealth creation should provide a broad positive economic effect, one that would continue to produce value over time. Consider infrastructure — repairing roads and bridges, updating airport capabilities, securing and modernizing the grid. These would facilitate growth of commerce over an extended period, creating both wealth and jobs. Improving health care for our citizens can have lasting benefits in terms of individual productivity, and thus is wealth-creating.
Our current administration chooses to fund the military and build a wall between U.S. and Mexico. Increased spending on military hardware may or may not be necessary, but it does not provide wealth creation. It represents sunk funds. In terms of the wall, a few big contractors will make a lot of money, and some temporary jobs will be created, but in the end the wall does nothing to create wealth on an ongoing basis.
Is something other than personal or corporate wealth creation a priority in this administration?
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David Lassen King, Richland