Money, in contrast, is artificial wealth. Its utility is merely instrumental- as a means of exchange and as a measure of value of real wealth.

Early in our tradition, Aristotle made the fundamental distinction between “natural” and “artificial” wealth. Natural wealth, in his view, includes consumable goods-food, clothing, housing, etc.- and the means of producing them. Money, in contrast, is artificial wealth. Its utility is merely instrumental- as a means of exchange and as a measure of value of real wealth. Our estimation of “real” wages in terms of purchasing power is a present day application of this basic distinction.

Aristotle also stressed the notion of limited material needs. Read more at use of money

Marie Claire Cooper is a Certified Management Accountant. She grew-up in Brewster, New York, U.S. and now working in an investment firm in Singapore. Please read more about practical tips on personal finance management at her blog at PERSONAL FINANCE MANAGEMENT GUIDE