Would earning the average worldwide wage leave us below the poverty line?

Question

I'm just wondering that if you calculated aggregate worldwide income, and distributed it evenly, what would the wage be, and would it be below what is considered to be the poverty line i.e. one cannot afford to purchase all the resources one requires to live at any given point on the planet. While the poverty line would initially differ in separate locations, market forces would even this out pretty quickly. I suppose the underlying question is, can the earths resources indefinitely support the current and future levels of population?

Answer 1

Average gross national income per capita in the world today is about $7,000. The problem is, the cost of living, especially housing, is very different between countries (and even within countries), so $7,000 in one place may buy you a completely different lifestyle from that you can afford on $7,000 elsewhere. Another problem is that definition of poverty is different from place to place, so in some places, this income would put you below poverty line, while in others, into top 10% of the wealth pyramid...

As to whether the Earth's resources can indefinitely support the current and future levels of population, opinions differ. There are reasons to believe that population growth worldwide will stop about 2100 at between 12 and 14 billion. Feeding this population shouldn't be a problem; modern agriculture is more than capable of producing the requisite amounts of food. Considerable uncertainty exists as to whether there will be sufficient energy to afford this popoulation access to inexpensive transportation...

Answer 2

No. that's going to harm the economic device in that fees will bypass up and everyones money will purchase much less. they might advance minimum salary to $50 and hour and it would nevertheless no longer help. Why nicely the cost of gas might bypass as much as $25 a Gallon, and Gallon of milk might run around 35 and loaf of bread at approximately $10. Any time there's a vote interior the homestead and Senate it relatively is over 80% know that the politicians are doing a experience stable excersize to persuade all of us they made the the terrific option selection interior the final election. it relatively is political grandstanding at its very worst! And what might that snotty little wealthy baby Ted Kennedy now approximately poverty. he's the biggest Hypocrite interior the worldwide.

Answer 3

No, it can't.

and it certainly cannot support the amount of people currently alive all living with the same resources YOU use.

Or me, or anyone else with a computer for that matter.


The many prop up the few.

Answer 4

Your question is flawed- you need to first realize what the TRUE definition of "Poverty line" is.

Answer 5

Hence the moon base.

Answer 6

Assuming other things constant, it is a sure thing. but you need .. to do your home first and then compare notes and answers.