Peace on earth
To determine how much total wealth the planet would need before competition for resources is unnecessary, we will calculate the wealth required to allow every person to spend at the maximum possible consumable rate ($3.16 billion per year per person) indefinitely.
Step 1: Global Wealth Requirement per Person
- Maximum theoretical consumable spending: $3.16B per year per person
- To sustain this spending forever, we assume a sustainable fund where only interest/dividends are used, without depleting the principal.
- Using a conservative return rate of 5% per year, each person needs:
\text{Wealth required per person} = \frac{\$3.16B}{0.05} = \$63.2B
Step 2: Total Global Wealth Requirement
- World population: 8.16 billion people
- Total wealth needed:
8.16B \times 63.2B = 515.7 \text{ quadrillion dollars} \ (\$515,712,000,000,000,000)
Comparison to Current Global Wealth
- Current total global wealth (2024): $454.4 trillion (or $0.454 quadrillion)
- The required wealth is 1,136× more than current global wealth.
Conclusion
- To remove all competition for consumables, the world needs about 515 quadrillion dollars, which is vastly more than what exists today.
- Even with extreme technological advancement, it’s unlikely humanity would reach this level of wealth in any foreseeable future.
Would you like an analysis of a more realistic threshold where competition is reduced but not entirely eliminated?
offshore westerly 