Sociology / Soc 0837 · Atom · ~20 seconds
Income and Wealth
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Income is money received over a period; wealth is the total value of assets held, minus debts, accumulated over time and across generations.
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A high earner with student debt may hold negative wealth; a modest earner who inherited property may hold a great deal.
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Students often mistake a high salary for wealth, or read income statistics as though they measured accumulated assets.