Income and wealth

Madam, - "Republic most likely EU state to reach US wealth level", reads a headline in your edition of June 19th

Madam, - "Republic most likely EU state to reach US wealth level", reads a headline in your edition of June 19th. This mis-statement is constantly coming up in the popular press. "Wealth" is measured in possessions - goods, savings, investments. What is meant is "income" - a measure of current earnings. Due to low income in the past, our wealth will take a long time to catch up. - Yours, etc.,

LOUIS SMITH, Donnybrook, Dublin 4.