Would we be a happier society if all the money in the world was distributed equally to all 7.7 billion people on the planet?
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00:00 What does wealth look like to you?
00:07 Is it $100?
00:09 $1,000?
00:11 $1,000,000?
00:13 We can always go higher.
00:14 But how much is too much?
00:17 In today's world,
00:18 the richest 1% of the population
00:20 owns almost half of the world's wealth.
00:24 Does that seem right to you?
00:26 Well, let's level the playing field,
00:27 and see what we get.
00:29 This is WHAT IF,
00:31 and here's what would happen
00:33 if money was distributed equally.
00:36 According to Forbes Business Magazine,
00:38 the top 10 richest people in the world
00:41 own a combined $745 billion in wealth.
00:45 That's more than most countries
00:47 produce in goods and services every year.
00:50 After the 2008 financial crisis
00:52 and the Occupy Wall Street movement,
00:54 you're probably aware that
00:56 wealth distribution in the world
00:58 is, well...
01:01 And studies show that the divide
01:03 is only getting bigger.
01:05 But what if we took all the world's cash,
01:08 investments, assets, etc.,
01:10 sold them,
01:12 and gave every person in the world
01:13 an equal share?
01:15 Would we be a healthier, happier society?
01:18 We can wage a war on poverty,
01:20 but can humans win against greed?
01:24 If you liquidated all of the world's
01:26 productive assets and combined them
01:28 with all the money in the global economy,
01:30 you'd be looking at a huge pile of cash,
01:33 roughly $250 trillion.
01:36 In fact, that's so much money
01:38 that if you stacked that $250 trillion
01:41 in $100 bills,
01:42 it would stretch more than halfway to the Moon.
01:45 But how far would this money get you
01:47 and everyone else in the world
01:48 if it was divided equally?
01:50 Well, take $250 trillion
01:53 and divide it between the current world population
01:55 of 7.7 billion,
01:57 and everyone is worth about $32,500.
02:02 Feeling shortchanged?
02:04 Don't.
02:05 Roughly 75% of the world's population
02:08 lives on less than that every year.
02:11 The equal distribution of the world's wealth
02:13 would certainly give a lot of people
02:14 a much-needed leg up.
02:16 Those living in extreme poverty
02:18 and lower-income households
02:20 could afford more food,
02:21 water,
02:22 clothing,
02:23 shelter,
02:24 and other necessities that some of us take for granted.
02:27 But how long would those opportunities last?
02:30 In a world of 7.7 billion people
02:32 who are motivated by different things,
02:34 and who have different skill sets,
02:36 maybe not long at all.
02:38 The first big hurdle would be financial education.
02:41 In order to keep relative wealth equality,
02:43 people would have to be smart with their money.
02:45 Now, that doesn't mean cut out all entertainment
02:48 and stick to the bare necessities.
02:49 But don't do this.
02:51 (Music)
02:55 We also have to wonder
02:56 what would happen to the quality of goods and services
02:58 in a world where everyone makes the same,
03:00 and there's no incentive to innovate or work harder.
03:04 Without strict regulations,
03:05 you can imagine how this egalitarian society
03:08 could revert to one very much like our own.
03:11 The world is full of entrepreneurs,
03:14 people who are looking to make a buck,
03:15 or simply want to make a positive contribution to society.
03:19 You can see how these people
03:21 might invest their share of the world's loot into new ideas.
03:24 They could convince others
03:25 that the product of their ideas is worth paying for.
03:28 And if enough people buy into it,
03:31 once again,
03:32 the market will give rise to millionaires,
03:34 billionaires,
03:35 and huge corporations.
03:37 In short,
03:38 some people will use their share to become very rich,
03:41 while others may fall back into poverty
03:43 due to a lack of education,
03:45 or unforeseen circumstances like an illness
03:47 or a natural disaster.
03:50 But despite the resurgence of an economic divide,
03:52 there's still hope in this scenario.
03:55 Universal basic income projects
03:56 have been tested around the world
03:58 to generally favorable results.
04:00 While some studies revealed that
04:02 when guaranteed a lump sum of money every year,
04:04 work effort decreased,
04:06 they also showed that
04:07 universal basic income increased school attendance,
04:11 reduced medical costs and mental health cases,
04:13 and was not squandered on luxury goods.
04:17 Universal basic income isn't a new idea,
04:19 but we're still learning how to make it work effectively.
04:23 Naturally,
04:23 a perfect world where everyone has the same amount of money
04:26 isn't feasible.
04:28 But that doesn't mean we can't ensure
04:29 everyone gets enough food,
04:31 water,
04:32 clothing,
04:32 and shelter.
04:34 If you want more than that,
04:35 you're going to have to work for it.
04:37 Learn how to be smart with your money,
04:39 manage it well,
04:40 live within your means,
04:41 and keep an eye out for good opportunities.
04:44 Are you waiting for that billion-dollar idea
04:46 to pop into your head?
04:48 It won't come on its own,
04:49 but it might help if you start asking yourself,
04:52 "What if?"
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