The primary objective of economics should be the maximisation of wealth, however it is not monetary wealth that we are talking about here. Wealth is (physical and psychological) wellness coupled with access to “true” capital, the latter, again, not being defined in financial terms.
Different categories of “true” capital are abundant in progressive economic literature. For those less familiar with the concept, this itemisation may prove helpful:-
- Natural capital (the fruits of the earth, if you like),
- Intellectual capital (the knowledge and skills we have acquired and pass on)
- Social capital (the institutions supporting civil society)
- Inspirational capital (encompassing natural or constructed beauty, the arts, spirituality, sport or any number of motivational legacies that offer meaning to life beyond merely surviving)
- Physical capital (what we have constructed and continue to maintain).