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It really isn't all that awesome, because that isn't very much net worth at all. At a minimum, you'd want everyone's net worth to be at least the average value
by chc 8y ago
It really isn't all that awesome, because that isn't very much net worth at all. At a minimum, you'd want everyone's net worth to be at least the average value of a car, I'd think.
- citrablue 8y agoI wonder how this compares historically, adjusted for era. Any idea?
- ChrisLomont 8y agoYoung people tend to have less assets than old people. Graduate from college with the median debt (~30K) and now you have net negative worth for a while. But this does not mean you're poor, and it certainly correlates with much higher net worth when older. Buy a car, which now has immediately lost value (in general), and you may have negative net worth for some time. But this is not bad, nor is it long term poor. As such, I don't think wanting everyone's net worth to be the average value of a car is realistic. Maybe averaged over a lifetime, or some such non-time-static metric would be better.
- Consultant32452 8y ago>It really isn't all that awesome 70% of the world's population lives on less than $10/day. And that is a significant improvement over most of history. If it's really half of the world that has $2300 that sounds very promising to me. I guess "awesome vs not awesome" really amounts to "compared to what?" Compared to the fantasy in my head of how life could be, it's terrible. Compared to real world history, it sounds pretty good.