Wealth Consists Not in Having Great Possessions, but in Having Few Wants — Epictetus
Created at: April 30, 2025
Wealth consists not in having great possessions, but in having few wants. — Epictetus
The Stoic Definition of Wealth
Epictetus, a prominent Stoic philosopher, reframes the idea of wealth from material accumulation to internal contentment. In his *Discourses* (c. 108 AD), he teaches that flourishing comes from virtue and inner tranquility, not from chasing ever more possessions.
Desire Versus Satisfaction
This statement highlights the principle that wanting less leads to greater satisfaction. Echoing the Buddhist concept of 'letting go of craving' as taught in the *Dhammapada* (c. 3rd century BCE), Epictetus suggests that minimization of desire is the true path to peace.
Freedom From Material Dependence
Reducing wants liberates individuals from anxiety about maintaining wealth. Diogenes the Cynic embodied this idea—living in a barrel with minimal possessions, he famously told Alexander the Great, 'Stand out of my sunlight,' illustrating joy that comes from self-sufficiency rather than external riches.
Happiness and Contentment
This perspective sees happiness as the result of appreciating what one already has. In *Walden* (1854), Henry David Thoreau similarly argues for simple living: 'A man is rich in proportion to the number of things he can afford to let alone.' Both thinkers champion contentment over acquisition.
Cultural Critique of Consumerism
Epictetus’s wisdom offers a critique of societies focused on consumerism. In modern sociology, Thorstein Veblen’s *The Theory of the Leisure Class* (1899) examines how conspicuous consumption often fails to bring fulfillment, supporting the Stoic insight that happiness lies in reducing, not increasing, our wants.