The bloody warfare between Israelis and Palestinians damaged wealth, too.
Inflation severely damages wealth creation, which keeps the standard of living from rising.
America's house prices began falling as early as 2006, damaging household wealth.
But it does suggest that the forecasts of impending doom should come with a health warning: groupthink is potentially dangerous and can damage your wealth.
"Investing in the wrong type of assets," he said, "in fossil-fuel assets specifically, in an environment where we're moving to a much less carbon-intensive world, damages your wealth".
There is so much empirical evidence that takeovers regularly damage shareholders' wealth, and yet the bids-and-deals game goes on and on, that it is probably fatuous to expect the owners to exercise caution, and block deals.
I began reading it, worried that it would be another third way, bloodless bromide in the spirit of Davos in which we are told that the only response to the transformations of technology and globalisation is world-class education and training and that the operation of capitalism itself can never be challenged for fear of damaging "wealth-generation".
The collapse of Enron has woken investors up to the idea that even the best-educated executives and advisers may behave in a way that is damaging to one's wealth, if not downright fraudulent.
Hacking can damage your health, wealth, your nearest and dearest.
Financial distress will damage China's wealth and welfare, almost by definition.
"The city has been so damaged by this wealth, and the middle class has been forced out," Ms. Lyon said.
