r/TheyDidTheMath trying to understand what wealth redistribution would look like.
https://reddit.com/r/theydidthemath/comments/lawrli/request_if_all_cash_in_the_world_would_be/
Damnit, the phrase is "own the means of production , not, "own the produced goods.
yeah but if you redistributed everything equally everyone would get 16 acres of land and 3 of those acres would be farmable
which like... yeah considering i dont own jack shit id be down for 16 acres and a bit of land for a farm... and i feel like a lot of people would be down for that too
Yes, wealth redistribution means reallocating all of the cash in the world, with no regard for assets whatsoever. Makes perfect sense, and would totally not just result in the exact same wealth distribution we have now within a year or two!
To be fair, the OP (missing link btw ^^) was precisely asking how much each would have if all cash was distributed equally and globally. Cash, as in "coins and banknotes". And u/sqmon technically just answered the question right.
Michael Stevens had a video about it, but basically, that's called M0. Here is a summary of the rest:
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M1 = M0 + the rest of "immediately spendable" money, like checking accounts. 25 trillions. $3'205/human.
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M2 = M1 + stuff a bit less accessible like savings account or time deposits. 60 trillions. $7'692/human.
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M3 = M2 + long time deposits, institutional money, market funds, large liquid assets, ... 75 trillions. $9'615/human.
And by the way, it has no economic sense at all, but since they did the math, I figured... The world GDP is around 88 trillions. Redistributing the entire wealth produced every year by sending a check to everyone would mean $940 stimmies every month (arguably not for long lmao).
Yeah, they did answer the question as asked, so no shame there. I was mostly just amused by the concerned comment saying that it’s “worryingly low, “ as if to imply that wealth redistribution isn’t practical because it would just make everyone equally poor, and that the purchasing power of $614 would remain the same if something that absurd were to happen. That old chestnut.
Also, my mistake for not posting the link. I should have checked the rules. Trying to fix now.
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Well ackshually, the 40 acres and a mule were only worth $45 back when they were promised, so we will do reparation in the form of used nickels amounting to $45 per family. But they have to work for it.
