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  • 00:00:04,838 --> 00:00:07,574 What does wealth look like to you?

  • Is it one hundred dollars?

  • A thousand dollars?

  • A million dollars?

  • We can always go higher.

  • In today's world, the richest 1% of the population

  • owns almost half of the world's wealth.

  • Well, let's level the playing field and see what we get.

  • This is 'What If,'

  • and here's what would happen if money was distributed equally.

  • That's more money than most countries produce in goods and services every year!

  • After the 2008 financial crisis,

  • and the Occupy Wall St. Movement,

  • you're probably aware that wealth distribution in the world, is, well...

  • And studies show that the divide is only getting bigger.

  • But, what if we took all the world's cash, investments, assets, et cetera,

  • sold them, and gave every person in the world an equal share?

  • We can wage a war on poverty, but,

  • If you liquidated all of the world's productive assets

  • and combined them with all the money in the global economy,

  • you'd be looking at a huge pile of cash.

  • Roughly $250 trillion US dollars.

  • In fact, that's so much money,

  • that if you stacked that $250 trillion in 100 dollar bills,

  • it would stretch more than half way to the moon!

  • Take $250 trillion

  • and divide it between the current world population of 7.7 billion,

  • The equal distribution of the world's wealth

  • would certainly give a lot of people a much needed leg-up.

  • Those living in extreme poverty and lower-income households

  • could afford more food, water, clothing, shelter,

  • and other necessities that some of us take for granted.

  • In a world of 7.7 billion people who are motivated by different things,

  • and who have different skillsets, maybe not long at all.

  • The first big hurdle would be financial education.

  • In order to keep relative wealth equality,

  • people would have to be smart with their money.

  • Now, that doesn't mean cut out

  • all entertainment and stick to the bare necessities,

  • all entertainment and stick to the bare necessities, but, don't do this...

  • but, don't do this...

  • We also have to wonder what would happen

  • to the quality of goods and services in a world where everyone makes the same,

  • and there's no incentive to innovate or work harder.

  • Without strict regulations, you can imagine how

  • this egalitarian society could revert to one very much like our own.

  • The world is full of entrepreneurs,

  • people who are looking to make a buck,

  • or simply want to make a positive contribution to society.

  • You can see how these people might

  • invest their share of the world's loot into new ideas.

  • They could convince others that the product of their ideas is worth paying for.

  • And if enough people buy into it, once again,

  • the market will give rise to millionaires, billionaires, and huge corporations.

  • In short, some people will use their share to become very rich,

  • while others may fall back into poverty due to lack of education,

  • or unforseen circumstances like an illness, or a natural disaster.

  • But despite a resurgence of an economic divide,

  • there's still hope in this scenario.

  • Universal basic income projects have been tested around the world

  • to generally favorable results.

  • While some studies revealed that,

  • when guaranteed a lump sum of money every year, work effort decreased,

  • they also showed that universal basic income

  • increased school attendance,

  • reduced medical costs in mental health cases,

  • and was not squandered on luxury goods.

  • Universal basic income isn't a new idea,

  • but we're still learning how to make it work effectively.

  • Naturally, a perfect world, where everyone has the same amount of money isn't feasible;

  • but that doesn't mean we can't

  • ensure everyone gets enough food, water, clothing, and shelter.

  • If you want more than that, you're gonna have to work for it.

  • Learn how to be smart with your money,

  • manage it well, live within your means,

  • and keep an eye out for good opportunities.

  • Are you waiting for that billion dollar idea to pop into your head?

  • It won't come on it's own;

  • but it might help if you start by asking yourself, "What If?"

00:00:04,838 --> 00:00:07,574 What does wealth look like to you?

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