What If The World's Wealth Is Distributed Equally Among Everyone?

What if you distribute the wealth of the world equally among everyone? Well, Wealth inequality is not a distribution issue entirely. Individual choices and temperament can’t be neglected. A one-time reset does not change anything. Wealth distribution may sound like choosing altruism over greed, but there is a lot more to it.

First you have to answer questions like what do you mean by wealth? do you want it to happen as a one-time event? Who would you sell all the assets to? Who would manage this whole event? Do you consider taking money from rich as stealing? How would you redistribute the wealth without halting the production lines?

The video also answers what would happen if you actually go through the process of distributing wealth among everyone. It also discusses scarcity economics, demand and supply, inflation, and various groups inclination with newly found wealth. The video also mentions communism and capitalism .

The video also discusses human psychology and disparity. It also highlights the Pareto Principle also known as the 80/20 rule.

Please share your thoughts by writing in the comment section below.

#equality #money #inflation

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[brownerjerry]

These analogies and examples of giving everyone in the world a free chicken or giving a man a fish, often ignores the fact that many of those who ate the chicken that very night were starving for days before that.

The idea that poor people are poor because they can't get their desires in control looks very stupid when you factor in just how many folks have to go to sleep hungry each day. That chicken will literally be the best most nutritious meal many(millions of people) WILL EVER HAVE IN THEIR ENTIRE LIFETIME.
One can't think about savings and investment when the answer to the question "will you survive by the end of the week?" isn't an immediate Yes. Those that were able to wait for the chicken to lay egg, weren't starving that day, Those that were able to let their chickens breed with a rooster(assuming they bought a rooster) were privileged enough to 1) buy the thing that would increase the value of their now asset .
2) wait enough time for them to start laying eggs.
One or both of them aren't in reach for majority of people.

Btw, i am not some Socialist Lefty SJW crying about "mind your privilege", i was born in an upper middle class background and now earn an income that would put me in the top 2 or 1 percent of my country technically because i worked hard, saved and invested money, started my business and all that routine(but also adding the massive privilege i had because of my background would make things a bit more clear). I never insulated myself from the poverty and misery all around me, and maybe that is why i can easily see through all these "you poor because you couldn't control your spending" BS. That argument wouldn't even work in a very rich country like US, a lot of people(i think a solid majority) can't even afford a 500 dollar emergency payment and a lot of them aren't in that situation because they just make it rain buying random things as soon as they get their paychecks.

These arguments make it look like poor people are some mindless drones that can't control their immediate impulses or somehow can't read an article from The Economist to still think that millionaires and billionaires just have these mountains of cash and gold lying around. Believe me these people have heard the word 'Stocks', as hard as it may be for you to believe.

[aidan]

"If everyone has superpowers, no one has super powers" -Syndrome

[abd]

To me wealth means the ability to sustain yourself without external support . Example - Land of a farmer is a wealth, Industry of an industrialist is a wealth .

[ChristyLynn]

In 2020 and part of 2021 I received unemployment, I was the person who ate the chicken and bought another the next day, I have nothing to show for the money I received. unfortunately I have a poor mentality and seek the immediate gratification, this video is really eye opening and I just discussed it with my 13 year old son. I worked last year and this year but lost my job in October, I don't know how I'm going to pay rent but I'm looking for a job, the thing is, now I hope I will know better.

I kept feeling like I was given the short end of the stick in life but I now realize that I have had the tools, but never the ambition.

[johnl.]

The problem we have now is the opposite with the government debt increasing each year tremendously that future generations will pay off. Any borrowed money (for emergencies only) needed to be paid back when times are better.

[fightthepower]

Proverb: 'Give a man a fish and he will eat for a day. Teach a man how to fish and you feed him for a lifetime.'
That said, wealth inequality is a weapon of mass destruction; reform or revolt?

[adalhaq]

the best form of wealth distribution is charity because there will always be people who are rich and poor. If charity was practiced properly people may not have luxuries but will have the basic necessities like water, food, home, clothes.

[reybarracuda]

In the real world putting everybody on equal ground means giving everybody the tools they can use to better themselves, or giving them equal opportunities to reach their goals. This can be done with good education, charity, and teaching good cultural values. Don't think that everybody is a mindless consumer that just wants to satisfy their immediate needs🤣. The real problem is that those people that have gained a comfortable economical stability just want to "chill" in their bubble and don't really want to help the people that are in a worst position than theirs cause it's too much "work"

[somebodykares]

The Global Wealth is $530 Trillion the worlds Population is 8 Billion which would equal everyone getting $662, 503 as of 2022.

[stef]

At the end of the video you hinted at the fact that modern societies do some wealth redistribution. But there are large differences in redistribution between countries, the USA for instance does a lot less redistribution than the nordic countries. What amount and what type of redistribution would be optimal do you think?

[dimitriusjulius]

Fantastic video! Summarizes so much in one video!

[kusumamedika]

Well here I thought yall geniuses and always one step ahead

[bipinmore]

Simply explain an unending answers to the most genuine questions in history gone by and upcoming

[MoempfLP]

Technological development happens mostly in wealthier regions, but everyone can benefit from it.
E.g. a vaccine developed in the US can help Africans.
If wealth is equally distributed technological progress will slow down, which is worse in the long run.

[NYCbankersforPalestine]

"The world would end without a profit motive"

[shaunmiller]

Wealth distribution is not what was actually being asked for the whole idea of wealth is not the issue. The issue is everybody paying the fair share inept governments selling off the assets of a country. These assets in the end end up in the hands of the very wealthy. Those are the people we are talking about who need to be taxed. The ones who own the assets the ones that do not pay the proper share back to society, so distribution of wealth is not what is being asked, for it is for the right taxation.

[nabilusman]

What happens if you keep an upper limit for the wealth one can own like say wealth worth of 25 million dollars. Anything extra has to be distributed to their loved ones or others. Does that help wealth to not being accumulated in few peoples hand. How would that impact the economy? I would like you to do a video on that.

[mampidas-cmvt]

Very nice and clearing video. Thanks for sharing with us

[ThePsychoExe]

The problem with our current system tho is the lack of opportunity. We have monopolies in every industry, so you cannot join most industries. This is because you cannot compete with these big companies that can lower the prices tremendously for a short period in order to destroy a new business rival just to afterwards increase prices again. Additionally these monopolies can offer a wider spectrum of services which makes them indestructible (too big to fail). So imo most industries are just impossible to get successful in nowadays unless you have huge starting capital or good connections. There need to be better systems in place to guarantee someone can start a business venture in any industry based on their idea.

[RupaKumari-egtf]

Yes I really thought that hardwork is good apart from this tyme external support and wealth is everything.