Earlier quoted context omitted.
So labor is wealth now? This is the same argument again. I could also discover oil on my property, or build a bigger house on it with my own labor, or all the other houses could get destroyed in an earthquake. Or, on the other side, someone could invent a new process or tool that makes your skills obsolete. Or a million immigrants could show up and bid labor prices down. These all change the amount of labor I will wa…
Yes, real wealth (and paper wealth) shifts around constantly depending on external factors, including all of the factors you listed above. Wealth is just optionality - if my house is worth $1M I have more options than if the my house is worth $500K, even if it is the same exact house. Yes, labor is how wealth is produced, but in a sense, an individual's labor is more than that: a person's unrealized wealth is the dis…
Economics is the study of scarcity. Wealth is real stuff like the house.
"Unrealized wealth" or "The potential to create wealth" or "the future value of your skills" shifts around, sure. Not the same thing as actual wealth though. And these shifts of theoretical outcomes are not transfers of wealth. This sounds like straining to fit something to emotional language.