Very valuable paper by the terrific @robertmanduca on the how to think about different wealth definitions, specifically the distinction between personal "market" or tangible wealth and claims to pensions and social insurance, arguing that there is no correct answer, but rather that the choice of what to include in wealth should be dictated what substantive socioeconomic question is under consideration. The paper shows how apparent wealth versus income inequality paradoxes may depend on measurement choice. Two comments to add. First, human capital is still and elephant in the room when considering the narrow versus augmented measures. Second, Manduca's arguments about difficulties in comparing countries apply a fortiori to comparisons of wealth inequality for a given country at different points in time, an issue that Larry Blume and I discuss in our JPE review essay on Capital in the Twenty-First Century.