If all the money in the UK was divided evenly between everyone how much would each individual have to live on?

Question

No idea how much money there is in this country but if it was equally divided between everyone, would we all be seriously well off or still stuggling for petrol and shopping each week? Or even the whole world and not just the UK? Please elaborate on your opinion - im all ears! Sources and calculations appreciated. Thanks in advance

Answer 1

Income is a better number. Because possession only mean something in relation to prices, and the individual prices of all sold good&services are the total production in year, which is approx the total income of the nation (there are important difference though).

Further, it is difficult to appraise the total amount of possessions. For example, what is the value of your couch? and of your car? Unless you just take the current market value of thinks like real estate, shares and bank account, it will be very difficult to estimate.

US$37,600 (World Bank, 2006) per persoon per year in the UK.

Answer 2

Very interesting question. As for the answer, I don't have a clue.

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