Wealth Spread equally throughout the world.

[Nextstopearth]

Just out of couriousity;

Let's say that the cumulative wealth of the entire world was spread out evenly among each person in the world. What do you think the quality of life with respect to finance would be for any given person?

[JuanDenver]

if that was forced to happen, humanity would implode on itself.

[TwiloMike]

Is each person equally educated, finance savvy, goal oriented, interested in accumulating wealth, driven, etc? If not, then the world will go right back to the way that it is right now pretty quickly, but if yes, then it will still go back to something resembling the world of today but somewhat slower.

[Beatitude]

20k/year per adult is my guess.

[Quintis Vindex]

The CIA World Factbook lists world-wide GDP per capita as adjusted for PPP (cost of living in a certain area), to be around $10,000 US.

[devire1]

the world's total gdp is $40,291,009,000,000.00. http://www.nationmaster.com/graph/ec...my-gdp-nominal

divide that by the world's total population, which is around 6,525,170,300. http://search.live.com/results.aspx?...c=IE-SearchBox

and u get $6174.71 per person.

[Quintis Vindex]

Originally Posted by devire1

the world's total gdp is $40,291,009,000,000.00. http://www.nationmaster.com/graph/ec...my-gdp-nominal

divide that by the world's total population, which is around 6,525,170,300. http://search.live.com/results.aspx?...c=IE-SearchBox

and u get $6174.71 per person.

Nominal per capita isn't a great indication of living standards or purchase power.

If you take the N and PPP and say $6.100-$10.000 , I'd say thats a fair estimate.

[devire1]

Originally Posted by Quintis Vindex

Nominal per capita isn't a great indication of living standards or purchase power.

just checked nationmasters.com...

it's $10,159.38 per capita.

[Beatitude]

Dang, I overshot by double.

[devire1]

wouldn't gross national income be more accurate to use than gdp?

the gni of the world is $5,737.28 per person.

[US_Ranger]

It would just screw everything up.

Evidence?

New Orleans. Money given to "refugees" of the crisis. What would you do if you had 2,000 dollars and no home, car or food? Buy a plasma TV obviously!!!!!!

Some people are just inbred or too stupid to know what to do with money and it would be wasted. Socialist utopias are crap. (no pessimist)

[devire1]

Originally Posted by US_Ranger

It would just screw everything up.

Evidence?

New Orleans. Money given to "refugees" of the crisis. What would you do if you had 2,000 dollars and no home, car or food? Buy a plasma TV obviously!!!!!!

Some people are just inbred or too stupid to know what to do with money and it would be wasted. Socialist utopias are crap. (no pessimist)

of course, the economy would completely collapse. how could someone start a business with just 10,000 dollars a year?

[Beatitude]

Originally Posted by devire1

wouldn't gross national income be more accurate to use than gdp?

the gni of the world is $5,737.28 per person.

Originally Posted by Quintis Vindex

Nominal per capita isn't a great indication of living standards or purchase power.

If you take the N and PPP and say $6.100-$10.000 , I'd say thats a fair estimate.

That's per person, not per adult, yes?

[empresscat]

My sister makes 2/3 of what I do - yet she has more possessions and better credit. Because of a difference in personalities. Security and stability are more important to her. I'm more likely to blow money on an adventure such as a spontaneous trip somewhere new, whereas she is more likely to get a new couch. I'm also more likely to overspend. I pay my car, insurance and rent on time but am not so good about credit cards.

My brother, on the other hand, has never really worked and has been supported by my father. He gets money, he spends it on beer, sodas, junk food and video games - and he is likely to "borrow" any you leave laying around because he always feels like he doesn't have enough (though if he asked my dad, dad would just give him more - he's spoiled that way.)

One of my friends, on the other hand, has always has a low salary, but has invested it wisely. He owns his house outright, and has a significant amount saved for retirement.

So as TwinkleTwilo said, dividing up the money evenly would solve nothing. People only appreciate money they have worked for, and different people have different ideas and attitudes about how to use it when they do have it.

[devire1]

Originally Posted by Beatitude

That's per person, not per adult, yes?

on the site, it says both per capita and per person, so i don't know.

[Quintis Vindex]

Originally Posted by devire1

wouldn't gross national income be more accurate to use than gdp?

the gni of the world is $5,737.28 per person.

Not really, as we are talking about per capita world wide. The GNI you use if adjusted for PPP would be similarly correlate to the GDP adjusted as such.

I like that website by the way, I wasn't aware of it. Going to book mark it for later.

[Quintis Vindex]

Originally Posted by Beatitude

That's per person, not per adult, yes?

Correct. These metrics don't account for demographics past the very literal per capita.

[devire1]

Originally Posted by Quintis Vindex

Not really, as we are talking about per capita world wide. The GNI you use if adjusted for PPP would be similarly correlate to the GDP adjusted as such.

I like that website by the way, I wasn't aware of it. Going to book mark it for later.

lol. they have some weird stats on there. check out the big mac index, http://www.nationmaster.com/graph/ec...dex-per-capita.

[v4lu3s]

inequality is what makes people work hard for the things they want in life.
I am all for people who make more or less, because without the desire for more or better there would be no innovation in this world.

[Beatitude]

A utopia doesn't come with socialism. A utopia comes when there is capitalism, and yet people are generous enough that things are as if it were socialist. That is a perfect society; a society that is both capitalist and yet at the same time egalitarian in wealth and status.

Of course, such a society is pure fantasy, until the appointed time.

[Quintis Vindex]

Originally Posted by Beatitude

A utopia doesn't come with socialism. A utopia comes when there is capitalism, and yet people are generous enough that things are as if it were socialist. That is a perfect society; a society that is both capitalist and yet at the same time egalitarian in wealth and status.

Of course, such a society is pure fantasy, until the appointed time.

We call them mixed economies, actually. Wealth isn't completely redistributed, but near enough. Some of the better examples are in Western and Northern Europe. Of course when you say people are 'generous', its compelled and regulated by Government mandate, but the end result is the same.

http://en.wikipedia.org/wiki/Mixed_economy

[Beatitude]

Originally Posted by Quintis Vindex

We call them mixed economies, actually. Wealth isn't completely redistributed, but near enough. Some of the better examples are in Western and Northern Europe. Of course when you say people are 'generous', its compelled and regulated by Government mandate, but the end result is the same.

http://en.wikipedia.org/wiki/Mixed_economy

Yes, mixed economy would be the closest thing to that. But I'm talking about a society completely unregulated by the government, and yet people out of charity make things as if they were socialist by their own accounts.

[Quintis Vindex]

Originally Posted by Beatitude

Yes, mixed economy would be the closest thing to that. But I'm talking about a society completely unregulated by the government, and yet people out of charity make things as if they were socialist by their own accounts.

Thats not possible, logistically speaking. People with 'means' would have to have a database of some sort to see who needs what and how much, to be able to initiate the transfer of means to those individuals. If they set up some sort of organization to do it for them, well, thats a type of 'government' as its now exercising political authority.

You aren't going all religious/Kingdom of Heaven on Earth on me are you?

[Beatitude]

Originally Posted by Quintis Vindex

Thats not possible, logistically speaking. People with 'means' would have to have a database of some sort to see who needs what and how much, to be able to initiate the transfer of means to those individuals. If they set up some sort of organization to do it for them, well, thats a type of 'government' as its now exercising political authority.

Yes, I realize such a society as things are is impossible.

You aren't going all religious/Kingdom of Heaven on Earth on me are you?

You better believe it. The ultimate Christian government is one which is 100% capitalist and 100% egalitarian simultaneously. A voluntary socialism if you will.

[KingSht]

Originally Posted by v4lu3s

inequality is what makes people work hard for the things they want in life.
I am all for people who make more or less, because without the desire for more or better there would be no innovation in this world.

No one would want to do the dirty work and no rich master would be able to pay anyone to do it.

[nonAtlas]

Originally Posted by Nextstopearth

Just out of couriousity;

Let's say that the cumulative wealth of the entire world was spread out evenly among each person in the world. What do you think the quality of life with respect to finance would be for any given person?

Not very good on the average, because the "spread out evenly" deal you describe would last about five minutes. This is because you would quickly see that wealth and its distribution are mostly a function of people's character and willingness to work and put their money into smart investments, rather than piss it away on what suits them for the time being. Also you don't acknowledge the role of government and tyranny, and how such factors drive wealth away or attract it, or just plain seize it from honest people. These are the factors that have left so much of the world in poverty that we see today. There is no uneven distribution of wealth attributable to "greed" or "unfairness" on the part of capitalists or free-market economies, which I expect (without reading all the responses your inquiry received) some will claim. Wealth goes where it is welcome and to those who earn it.

[Quintis Vindex]

You should have left that self serving typically dip****-ish remark at the end, would have been more in character.

[Couldbebigga]

The world would quickly sort itself out into the haves and have nots again.

[nonAtlas]

Originally Posted by Couldbebigga

The world would quickly sort itself out into the haves and have nots again.

Exactly. You can't force human nature to be what it is not.

[SYRIANKID]

It's all about PPP. GDP/capita is meaningless if not adjusted for that. If everyone had the same amount of cash in the world, people in the 3rd world would live like Kings because things are so cheap there and taxes are practically non-existent.