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There is a mistake in your calculation - the nominal DGP of the world is around $77.609 trillion which is $10,857 per capita. https://en.wikipedia.org/wiki/Worl
by dandare 11y ago
There is a mistake in your calculation - the nominal DGP of the world is around $77.609 trillion which is $10,857 per capita. https://en.wikipedia.org/wiki/World_economy https://en.wikipedia.org/wiki/World_economy. Rich people really own the majority of wealth and the rest really is the 99% (Please note I am not saying that communism or idiocracy is a solution)
- vinceguidry 11y agoI don't think GDP is the right number to use here. If you redistribute wealth, then you're greatly affecting the ability of individuals and businesses to produce and sell more things, meaning you're destroying GDP by redistributing liquid capital. You can't redistribute non-liquid capital. What are you going to do, cut train cars into redistributable pieces? Rich people owning the majority of the wealth is a tautology. If they didn't, then they wouldn't be rich.
- dandare 11y agoI disagree with calling the statement tautology. On the contrary. Imagine a scenario where 99 people own 1$ each and 1 person own 10$. The richest person does not own nowhere near majority of the wealth. This is how OP understood the situation, while the current situation is more like 99 people owning 1$each while 1 person owns 110$. Do you see my point?