Indeed it does not. There is only so much that can be covered in 500 words or less. On wealth, it is very important to note that given 2 HH’s who differ by say, 20K in income, that they are not unequal by 20K in utility, because income (like many other things) has what we economists call “Diminishing Marginal Returns” (The first hot dog is great, but the 12th?)