meaning in context - Does the word "welfare" have an abbreviation?


I was listening to a lecture about Mercantilism where I heard a word that sounded like Welf. I tried to find if this word exists but I didn't find. In the lecture I heard this:



The amassing of gold in payment for exports in excess of imports would allow a nation to build the welf.



By the context I suppose that welf is an abbreviation of "welfare", but I'm not sure. Can you tell me what is the word heard? Or, if welf sure is an abbreviation of "welfare"?



Answer



I think you heard wealth:




  • an abundance of valuable possessions or money

  • the state of being rich

  • material prosperity



(And no, I don't know of any common abbreviation for “welfare”.)


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