Mildly Infuriating
Home to all things "Mildly Infuriating" Not infuriating, not enraging. Mildly Infuriating. All posts should reflect that.
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Nobody needs wealth like this. I'm convinced everyone could have a modest life if people didn't insist on opulent luxury.
There's so few of these people (and so many of the rest of us) that the math doesn't actually work out on that.
Try it, look up an estimate of the wealth held by the gratuitously rich, divide by the relevant population, and then multiply by whatever the average return on that capital would be. It would be a nice raise but not life changing. Counterintuitively, extreme poverty is kind of a separate issue to extreme wealth, at least in the West.
I don't know what kind of math you're using, but Half of all the wealth in the world is ABSOLUTELY enough for everyone to live modest but not impoverished lives.
It ABSOLUTELY is not. That extreme wealth is the result of extreme exploitation of poor people and societal structures designed specifically to benefit the already rich at the expense of everyone else and of hoarding of resources that are thus kept from everyone else.
I don't know if you're aware of it or not, but you're spreading insidious disinformation that the ultra-rich and their pr teams employ to minimize perception of their wealth and deleterious effect on society as a whole.
It's important to note that for this specific situation/question, percentages (i.e. "half of all wealth") aren't actually useful. Depending on what the actual flat numbers are, it would still be possible for "half of all wealth" evenly distributed to the entire population of the planet to not be a lot of money per person.
That being said, I looked at your linked article which actually includes the flat numbers which means you can do the math and see what an even distribution of wealth amounts to for each and every person.
That article claims that in 2022, total global wealth was 418.3 trillion. Looking elsewhere for total global population in 2022, I'm finding ~8 billion. Those numbers give us a per person wealth value of ~52K. It's important to note that this isn't a yearly salary - it represents the sum total of all assets each person would have. Also important to note that the population number includes children - something like global adult population would likely be more useful but I couldn't easily find that number.
So 52K is our answer, but interpreting it is I think a very complex question all on it's own. I have no idea if this amounts to a "modest" living or even what "modest" really means (PCs? Air Conditioning? Year round access to global fruit supplies?). I thought for a long time that if we could evenly distribute wealth that everyone could live a "good" life - but the numbers might literally not shake out for that. I still hope they do. I want them to. But I've never seen a clear answer. Also, this isn't an argument against an even distribution of wealth. I think it's ethically correct to evenly distribute wealth basically no matter what. I just don't know if anyone knows what the lives of people would really look like in that scenario.