Is it possible for everyone in this world to be rich and wealthy?

Question

Why or why not?

Answer 1

If everyone were extremely productive it would be.  What tends to account for differences in country's wealth is capital stock accumulation and productivity.  So inflation concerns aside, it is theoretically possible just not very likely.

Answer 2

In real terms (access to food, shelter, education, and healthcare, etc), it's possible, but incredibly difficult.  In relative terms, it's impossible, because people will always have differing incomes.

Answer 3

No because there always has to be a working class to allow those few "rich" to prosper and stay wealthy.

Answer 4

The answer is No.  If everybody was rich, we'd all be poor. Imagine if everybody was given $1,000,000 tomorrow. After the party and round of people quiting their jobs, how much do you think a loaf of bread would cost? $3.00?  Or $300,000?  How much would the person who works at the store make if they also just received $1,000,000?

You see the problem?  Its called Hyper Inflation. You cannot have a society where everybody is rich, else you'll make everybody poor. You must have a tiered socio-economic structure in order to have a functioning economy. Else the janitor won't show up to work or the school teacher to educate your children.

Answer 5

Not everyone, but if you're a cronie of the administration or work with an oil company or Haliburton, you can acquire a tidy little nest egg.

The rest of the American people don't matter.

Answer 6

Rich and wealthy are variables.  That is to say, X amount of money does not make a person rich or wealthy.  For me, making 35-40,000 will make me more than happy and I will be able to retire comfortably.  For others, making $100,000 will not make them happy, and they will spend on their money and never be able to retire.  It is not just making good money, you have to be able to make the money work for you.  If you think that just putting money into the saving account is enough, you may be wrong.  I know that stocks have about double the rate of return.  So, over 35 years, your return would be double.  If you put, say 10,000 dollars in the bank, and get a return of 5%, you make 500 dollars.  If you do that for 30 years...your 10,000 becomes 43,219.42   But if you put it in the stock market and got a 9% return, you would have 132,676.78.  So, it is really what you do with your money.  Moreover, if you put your money in the stock market, your money will on average double every 10 years.