The planet is worth 5 quadrillion dollars? And there are roughly 8 billion people on the planet. What's your fair share?

[ChiTown33]

I was reading an article today that if you could assign a valuation to everything on the planet and sell it. It would be worth a staggering 5 quadrillion dollars. And that if you could distribute it evenly amongst the each inhabitants at roughly 8 billion people that'd be about 625,000 dollars per person. How do you feel about that?
This isn't political, I'm not a socialist or advocating socialism. This is just for fun.

[WindAtMyBack]

I'm curious how they came up with that number. Like do they include all land for example? Are they using market value or what it could actually be sold for?

Anyway, I'll take my portion as a few hundred acres of forest land. If there is any left over I'll put a cabin on it with a well and plumbing and electricity.

[ChiTown33]

It didn't say. It just said some scientist came up with the formula that determined it. My guess is it's a very ballpark figure.

[RedStealthOperative]

That's pretty interesting. And how do I feel about it? Well, it would suck for people who worked hard for the millions or billions they earned over the years. It would be nice for me, though! Also, "quadrillion" is a funny word. Lol

[lightbulb27]

honestly, im good with an acre and my share. maybe time for a jubilee and it all gets divided up evenly...

then divide that number down to liike $20 and start the currency over so the numbers aren't nuts.

[ChiTown33]

I like the way you think.

[Guy13]

What good is 625,000 when all that you own has been stolen and sold. This is nonsensical and a horrible idea. Plus, it is likely that the World Bank will not disburse those Funds…. Global governance grounded in Socialist/Communist actions is what we are talking about here…

[ChiTown33]

Apparently you didn't read the description. Smh.

[Guy13]

I read it but the reality is there is no practical way around it.

[ChiTown33]

This isn't a practical question🤣
You either didn't read it or you didn't comprehend it.

[abc3643]

ONLY 5 quadrillion? That's not as much as I expected. I would have expected about 3 to 15 times that amount.

[ChiTown33]

I have heard other figures. I mean considering it's all just formula with inexact variables means it could be considerably higher.

[abc3643]

Well, we can do a quick "back-of-the-envelope" calculation for the bounds on this:

To make the numbers round, the US GDP is 20 T$.
There are about 200 nations on Earth although most do not have the GDP the US does. So, let's just say the average GDP is 10 T$.
So, 200 * 10 T$ = 2000 T$ = 2 P$ = 2 quadrillion dollars.
So, that's just the GDP for one year.
Much of that is services and not goods.
Let's say half is goods.
So, that means that the world produces about 1 P$ of goods each year.

But many assets, once bought, last years, but there's depreciation too.
So, let's say an asset has an average lifespan of 10 years..
That would mean about 10 P$ in goods.

Hmmmm... that was a good exercise. I computed 10 P$ but my numbers were round and I believe strongly that the average GDP is probably less than the number I used, so I can believe that 5 P$ figure in your question. After all, there IS depreciation, so, even if a good is a "durable good" and lasts a good long time, it's value decreases over time to the point that it must be replaced.

[andreasderjuengere]

That only works if aliens buy up the planet.
Otherwise, we'd have to come up with payments on our own - so if all of us will buy from everyone, the logic profit -to me- is: zero.
That's why capitalism will fail; just not yet.
I'm not a commie, either - but I have a brain.

[spartan55]

Then we have nothing to buy because we just sold all our shit... 😂 😂

[driven159]

right now, it is not worth anything just a big mess

[exitseven]

I bet my share is 42 cents.

[fireforeffect]

What makes you think that you get a "fair Share"?

[ChiTown33]

Nothing. It's just for conversation.

[legalboxers]

$1.00...

[shortster]

3 trillion.