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community wealth:

. . . things and resources of value possessed in common in a . . . place where people live, work, and share things in common (source of quote). Such things and resources are both tangible and intangible. Fulfilled wants and needs of locations seeking enterprise and economic development become community wealth. Things and resources in place that attract prospects, such as education related to laborforce skills, make up community wealth also.

Monetary wealth of communities is . . . anything that has its value revealed through buying and selling (source); however, there are many items that qualify as community wealth which are not easily measured in commercial terms. They are the things and resources of wealth in common that simply make a community better off, for example, quality of life and community spirited leadership to name a couple.

Analysis of taxation can provide insight regarding community wealth. Governments tap wealth as revenue sources. The typical way taxing authorities tap accumulated wealth in a community to make the assumption of commercial value of material possessions and resources. A Wikipedia article refers to material possessions and resources while stating that wealth . . . refers to some accumulation of resources (net asset value), whether abundant or not. 'Richness' refers to an abundance of such resources (income or flow). A wealthy individual, community, or nation thus has more accumulated resources (capital) than a poor one. The opposite of wealth is destitution. The opposite of richness is poverty (source of quote).

related: wealth; value; property; real property; money; laborforce; goods and services

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Economic Development Services, Inc. / copyrights and all rights reserved / 06/08/2013