Wealth Is Created. How?

▶ PART 01 / 08 PART 01 What is Poverty? The Waypoints Wealth Creation video series begins with a subject for which no one prays: poverty. Defining the concept of poverty precisely helps us to understand better why poverty is a problem and what the solution is—the creation of wealth. Select episode ↗ ▶ PART 02 / 08 PART 02 Is Wealth the Same as Money? It is important for young citizens to understand that wealth is not the same thing as money. Governments and other organizations can simply print money, the result of which is often inflation. But printed money does not provide what people actually value. Select episode ↗ ▶ PART 03 / 08 PART 03 What is Wealth? Wealth is value—what others value, in particular. Producing value requires productive work, providing what others want, need, and appreciate. That means wealth can be created—it must be created—which is good news for everyone, especially those who don’t have much wealth. Select episode ↗ ▶ PART 04 / 08 PART 04 Does Wealth Require Theft? Wealth requires creativity, productivity, and a willingness to provide what others value. Wealth creation is not theft. It is not morally wrong. It is right. Suspicion should be cast not at those who create wealth by producing value for others, but at those who don’t. Select episode ↗ ▶ PART 05 / 08 PART 05 What is Business? A business is organized specialized productive labor, which is why a business often is far more efficient than an individual. A business can make a smart phone, for example, far more efficiently than you can by yourself. Efficiency is how a business produces value for others. Select episode ↗ ▶ PART 06 / 08 PART 06 What a Business is NOT A business is not a government. A business has no legalized power to force anyone to do anything he or she does not want to do. All a business can do is offer various goods or services that some people might value, and which all people are free to decline. Select episode ↗ ▶ PART 07 / 08 PART 07 What is a Job? What we typically a “job” is really a productive partnership resulting from a mutual voluntary agreement. Each party values things the other can provide or do. The best partnerships are when the parties involved become more productive and therefore more valuable to each other. Select episode ↗ ▶ PART 08 / 08 PART 08 What is Profit? An honest business earns a profit by making others happy. The more smiles a business puts on more faces, the more profitable a business is likely to be. A business earns profit by producing a product or offering a service people value more than the cash in their pocket. Select episode ↗