Wealth-based

Wealth-based refers to something that is determined, influenced, or measured by an individual's or group's financial resources, assets, or economic standing. It signifies a system, process, or characteristic where the level of wealth plays a significant role in determining access, opportunities, or outcomes. This can apply to various aspects of life, from healthcare and education to social status and political influence. The emphasis is on the economic dimension as a primary factor. Often used when highlighting inequality or the advantages those with greater financial means hold.

Wealth-based meaning with examples

• The exclusive private school system often operates on a wealth-based admissions policy, where tuition fees and donations limit access for less affluent families. This creates educational disparities, and often increases inequality across societies. Families with greater financial resources typically can provide their children with better resources, furthering the cycle. This often leads to a lack of diversity within the student body.
• The proposed tax reform faced significant criticism, with opponents arguing it created a wealth-based loophole, benefiting only the wealthiest taxpayers. This would allow them to further reduce their contributions, creating an even larger imbalance. This would further exacerbate financial disparities. The policy, if passed, could widen the gap and place a disproportionate burden on lower-income families and social programs.
• Medical research frequently focuses on wealth-based health disparities, revealing that those in lower socioeconomic brackets often experience poorer health outcomes. Access to care, quality of treatment, and preventative measures are significantly impacted. Those with greater financial freedom often have better access to resources and are able to take advantage of them more often.
• The art collector's acquisition strategy was clearly wealth-based, prioritizing the purchase of pieces by renowned artists commanding extremely high prices. His portfolio served as a symbol of wealth and status rather than passion. Their collection had limited focus, with little regard for artistic diversity. This further fueled market value for an elite class of artists.
• Social mobility in many countries is highly correlated with a wealth-based infrastructure, meaning opportunities are often available to the financially privileged. Children from wealthy families will have access to the best institutions and educational systems. The system promotes intergenerational wealth transfer. This creates barriers for others lacking financial resources. This contributes to the perpetuation of social inequalities.