WEALTH 



Under simple conditions of human living very jew mate- 

 rial things are accumulated. It takes about all the time 

 there is to get the bare necessities and to fight enemies of 

 one kind or another. The only surplus is likely to consist 

 of weapons, simple tools, and trophies of the chase or 

 of war. 



With increasing division of labor, and with the growth 

 of agriculture, industry, and commerce, production goes 

 on at an increasing rate. It becomes possible to construct 

 more permanent buildings and bridges, ships and docks, 

 roads and railways, and to store up large accumulations 

 of food, clothing, fuel, tools, raw materials, ornaments, 

 and so on. All these usable objects and materials con- 

 stitute a people's wealth — the material basis for their 

 welfare. 



In considering the wealth of a people we sometimes 

 include all the natural resources, such as fertile soils, 

 minerals, mines, forests, water power, wild life of land or 

 water, and so on. All these things can be converted into 

 usable wealth by means of the skill and science available 

 among the people. We shall give our attention to those 

 elements of wealth that are derived from an understanding 

 of life or of living things. 



