The law of wealth accumulation and prosperity (სიმდიდრის დაგროვების კანონი და კეთილდღეობა)

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Ivane Javakhishvili Tbilisi State University Press
The paper sets out a new, alternative concept of wealth creation and growth. The content and composition of wealth, which includes its non-economic (intangible) species, is presented in extended content. The concept of social energy - the potential for creating community wealth - has been introduced. Shown in the creation of wealth are completely and partially free social energy sources: natural resources - solar energy, climate, soil fertility, mineral wealth, flora, fauna, hydropower, etc., as well as anthropogenic - in the process of application, knowledge, experience, science and technology, innovative thought passed down from previous generations and newly acquired and the role in the production of wealth. Wealth growth has been proven to be the production of a product obtained as a surplus of profit or expenditure by combining the abovementioned free resources with labor and means of production. It is substantiated that the increasing rate of activation of free social energy and the use of capital (long-term consumption) over several times the production time, as well as the excess of the productive forces of society, the rate of wealth growth exceeds the rate of its creation. This is reflected in the law of wealth growth. The distribution of wealth, the foundations of its fair and unjust distribution, and its impact on overall well-being are newly discussed. The conditions for the common welfare of the society are established. Explains when and why economic prosperity is moving away from increasing overall well-being. The importance of a culture of wealth consumption, rational and moderate use for the common good and economic growth is also highlighted. Particular attention is paid to the unfair distribution of wealth, excessive property inequality, and irrational use in the pursuit of prosperity. Losses of overall well-being due to the idle economy - the production, accumulation and consumption of products that do not bring real benefits are shown. . The existence of such a difference in the present conditions in the world is confirmed on the basis of factual materials. Overcoming it is presented as one of the challenges facing humanity
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Wealth, social energy, free resources, free social energy, added product, the law of accumulation of wealth, prosperity, ineffective economy
Economics and Business, №4, 2020, pp. 54-74