What would happen if everyone on earth was rich?
If everyone becomes rich ,the currency would have no value. The value of currency is given by goods and services in the nation. The total goods + services = Relative value of money.
Can everyone in the world be rich?
Originally Answered: Is it possible for everyone to be rich? No. Being “rich” by the common definition means that you’re worth a lot more than the average person around you in monetary value.
How much would everyone have if wealth was evenly distributed?
The world has a population of 7.6 billion. Assuming the worlds currencies all together are worth $65 trillion for 7.6 billion people, if equally distributed, everyone would get: $8552.
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Can anyone become a millionaire?
Anyone with any income can become a millionaire. Bigger paychecks will increase the odds that you reach the status of having a million-dollar net worth.
What would happen if we made everyone equal/rich?
So no matter what you define as rich, assets or money, the definition of “rich” if you made everyone equal/rich it will change to a level above that standard. All prices of goods and services would increase relative to the new definition, thereby not making you “rich” anymore.
What is the definition of being rich?
Being “rich” is not a static definition, it is a relative term to other peoples level of wealth. So no matter what you define as rich, assets or money, the definition of “rich” if you made everyone equal/rich it will change to a level above that standard.
Does the world run on the theory of equality?
However, the bottom-line is the world runs on the theory of equality, which is you have equal amount of people dedicated for all kinds of jobs because that is how the system would function without failure” I was glad that I had this conversation with him. It changed the way I looked at people I used to take granted for earlier.