Enough Money for Everyone

1.27% of water in the Great Lakes is "enough water for everyone"

How much money would be "enough for everyone"? This is probably rarely thought about by most people, and maybe when you first read it, you just think something like: "well that's up to other people to figure out".

It might surprise you that it's not that challenging of a question really. With middle school math skills, we can make some estimates. But first, let's ask another question that reveals the simple rationale we can use.

A similar question is: "How much water is enough for everyone"?

Let's look at the "water" first and then return to "money". When we say "enough" let's assume we mean something more than the bare minimum.

According to the World Health Organization (WHO), between 50 and 100 liters of water per person per day are needed to ensure that most basic needs are met and few health concerns arise. reference

So in order to be sure we mean "enough" let's use the 100 liters figure per person, per day.

Now, to show the simplicity of this calculation, we just multiply 100 liters by the current estimated population of earth, which is about 8 billion people.

To have "Enough Water for Everyone", we collectively need:

800 billion liters of water per day

Easy! Let's also look at how much that is per year so we can ponder that figure. We just multiply by 365 days in a year.

292 trillion liters of water per year

That's about 1.27 % of the water in the famous Great Lakes. With this simple estimate, we get the idea that there is "enough" water for everyone on earth. We can also realize that we should be kind and make sure we all have access to a fair share for survival.

In this way, we can use the simplicity of our understanding of water that we need for drinking, cooking, bathing, and cleaning to reveal a shared human understanding of survival. As ethical humans, we often do work together to make sure everyone has enough water. If someone is thirsty, we make sure to hand them a free glass of water.

Of course all of these concepts can be made much more complicated, but we can see that simplifying the understanding of it allows us to reveal some basic truths. As we now take a look at "money" again, we're seeking a truth that is not often admitted or understood by most people. In this reveal, we get to discover the joy of understanding.

An analogy for "Humanity" is a "Body"

A rather ideal model to think about when we imagine "humanity" is to think of each one of us like a cell in a body, and to see the body as humanity. The cells work together to ensure the survival (and ideally, thriving) of the whole. Anything less than this is seen as disease in a body.

Because "money" is a human-constructed concept, and is not as simple as physical water that is found in our natural environment, what we consider "enough" is a bit more subjective. As we established for water, we'd like "enough" to be a figure beyond bare minimum.

Let's also simplify things by looking through the lens of the United States, and to ensure we leave a little extra for us to be able to give some money daily to what we care about most.

Let's use a figure of $300 per person per day. You could imagine living on this. It could feel too large for some and too small for others, but it's probably "enough" for the vast majority of the world.

If we assume 30 days in a month, that's $9000 a month, or $109,500 in a year.

Going back to the perspective of everyone in the world, we multiply $300 by the 8 billion people on earth and arrive at a number 3 times larger than our figure for water.

2.4 trillion dollars per day

Simple! Now to explore the per year figure, we again just multiply by 365.

876 trillion dollars per year

The math couldn't be any more straight forward. It's actually quite liberating just to see how basic this is.

One thing we discover is that, unlike water - where a very small percentage relative to the total is needed for humans to be okay - we don't actually have enough "money" on earth to make sure humanity is okay.

In 2022, the global M2 money supply was about $82.6 Trillion (Ref), which is defined as "a measure of the money supply that includes cash, checking deposits, and non-cash assets that can easily be converted into cash". This total supply is only about 9.43% of what we can estimate the world needs. This is why, when it comes to "money", humanity always feels "thirsty". The "Old Game" (aka Economy) keeps humans in a false state of scarcity.

Everyone understands and can see where water comes from, but most people are pretty uncertain on where money comes from. If you take up the challenge to figure out where the money you most commonly use comes from, we expect about 99% of you to be quite surprised.

As you explore the sources of money in the world, and work to understand them deeply, you will learn that the most important thing in the concept of "money" is "how it is created". It's really an important thing that everyone should understand. If you have the curiosity, explore these questions:

    • How is money created?
    • Who can create it?
    • How much can be created per day?
    • Is it fair?
    • Is it based on real "value" (energy)?
    • Why can it be created? for what purpose?

We hope that your mind was expanded a little while reading this and look forward to giving the world what we need to make sure there is "Enough Money for Everyone" on earth!

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🟧🟧 Wrote "Enough Money for Everyone" (B) 💰👨🏻‍💻 |Cre|{TW} :: Enjoyed writing a post to show basic estimates of how much money we need for humanity.   Comparison to water was insightful.
🟧 Edited and published post (B) 🤓|Cre|{TW}
🟧 Reviewed blog post (L) 👀✔️ |Coop|{TW}

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Great Lakes Photo by Lucas Ludwig on Unsplash