If all the wealth in the world were distributed evenly, how much money would each person have? How would this affect the everyday lives of westerners?

Thanks for your help. Any references would be appreciated.

To determine how much money each person would have if all the wealth in the world were distributed evenly, we need to gather some data and do some calculations.

According to the Credit Suisse Global Wealth Databook, the total global wealth as of 2020 was estimated to be around $400 trillion. Now, the world population is constantly changing, but as of 2021, it is approximately 7.9 billion people.

To calculate how much money each person would have if the wealth were distributed evenly, we divide the total global wealth by the world population:

$400 trillion / 7.9 billion = $50,633.16

Thus, if all the wealth in the world were distributed equally, each person would have approximately $50,633.16.

Now, let's discuss how this scenario might affect the everyday lives of people in Western countries. It's important to note that this is a hypothetical scenario and doesn't take into account various factors such as economic systems, productivity, and individual choice.

In Western countries, where there is generally higher wealth compared to other regions, the immediate impact might be a significant reduction in the wealth of those who were previously wealthy. This could lead to a decrease in the financial advantages enjoyed by the affluent, including access to luxury goods, higher-quality education, healthcare, and other privileges associated with wealth.

On the other hand, those who previously had limited access to resources would experience a substantial increase in their wealth. This might result in improved living conditions, increased standards of living, and better access to education, healthcare, and other basic necessities.

However, it's important to consider that a sudden equal distribution of wealth would likely have significant social and economic consequences. The current economic systems, market structures, and incentives for innovation and productivity would likely be disrupted. Moreover, factors such as individual skills, education, and work ethic would still play a role in people's lives.

For references, you can consult reports by reputable institutions such as the Credit Suisse Global Wealth Databook, World Bank, or International Monetary Fund (IMF) for global wealth statistics and population data.