That is a good answer, but not the right one (although part of it).
I have a very simple but firm definition of when and how wealth is being created. When you add value to a resource or deliver a service NEEDED to support that activity. EVERYTHING else we do in our economy is merely redistributing wealth thusly created.
I will try not to get too detailed, but some generalization needed for brevity. The person who starts and runs a business doing these things, yes, but this also applies to every employee. There are some clean lines in the sand, but a lot of very gray areas.
Let's start with the typical family. If we assume 2 kids, and looking only at that 20 year window when they are raising that family. For this example, let's consider two parents, two dependent children and two surviving granparents who have retired. In this case, Mom is at home. There is only one person actually working in this example, and then, we have to consider what he or she is actually doing. If the breadwinner is mining iron ore, pretty simple to decide wealth is being created. If making it into steel, ditto. If fabricating something from that steel (a car, a bringe, etc.) same. We can probably agree that everyone who puts a hand on a piece of steel is productive. What if that person works for a bank? Well, if they are doing some of the things that genuinely are needed to run our economy (keeping accounts, loans, mortgages, etc.) then that is a necessary service. If they are working in finance, let's say derivatives, then any money they "make" is simply paying off a bet that someone made (either win or lose), but no value was added. They are no different from the welfare Mom with a half dozen dependent kids or the criminal incarcerated for his activities - they merely redisitribute wealth. I even have to question the entire real estate business - in most cases, even building a structure if that structure is not needed for the creation of wealth, then no wealth is being created - in fact it is being redistributed from the productive part of the economy to the dependent part.
As I hope you can see, not very many people in our society create any wealth. The size of your pay packet or the percieved importance of your position does not necessarily corealte with how productive and contributory you are to the economy, or society in general. What we have right now is a very lopsided economy with far too many people being given the privilege (dispensed mostly by government) to take a dissporportinately large part of the resources for activities that do not contribute to either bettering the economy or society. Just growth for the sake of growth is actually a very negative thing, since we start measuring the value of speculative gain and confusing it with increased overall wealth. The only reason we can keep on doing this, so far, is that we have a very large natural resource base to exploit to support a very small population. Also, because we blindly have mortgaged our children's future to pay for some of this largess (a trillion dollars of debt is not sustainable - unless we learn to manage what we do with the rest of our economy to create wealth instead of merely redistribute it and inflate the numbers speculatively).
Later.