With the exchange rates remaining intact? Many people would live a much better life.
Comment on What's the endgame when the rich have all the money?
tonyn@lemmy.ml 2 weeks ago
If all the billionaires in the world instantaneously ceased to exist, and all their money were evenly distributed to everyone on earth, you would get a one time payment of about $1,769. Then what?
ElPussyKangaroo@lemmy.world 2 weeks ago
edgemaster72@lemmy.world 2 weeks ago
We move on to the triple digit millionaires, and maybe the double digit millionaires too.
Zarmeck@sh.itjust.works 2 weeks ago
You’re forgetting that this money would exchange hands multiple times per year, per person. Expenses are revenues; we’re all connected.
But when some people put billions aside (in non tangible stuff like stocks), they’re effectively reducing the buying power of everyone else. Slowly but surely. They are a net negative just by their mere existence.
tonyn@lemmy.ml 2 weeks ago
I see your point, but my point is that each time the money changes hands, more of it will bubble up into the coffers of newly minted billionaires.