What would Earth be like if everyone were millionaires? (NOT VIA INFLATION)

[ChrisV]

Edit again: Guys please read the post. We’re not talking about simply printing more money. I mean if the entire world did the things necessary to create wealth (ie creating value.)

This is always something I’ve wondered. There used to be a time that I wouldn’t help others gain an advantage financially because I thought if they were rich it would just dilute thee value of money that it would be as worthless as paper. Now, I don’t believe that at all. So what do I think the world would be like? Better. I think everyone would simply be adding more value. Cars would be better. Books would be better. Art would be better. And those people who created it would be rich, allowing them to purchase Homes/clothes/cuisine of the same improved quality.

Problems would be few becasue people would be coming up with ideas. Don’t know the best place to get chinese? There’s an app for that? Don’t know where to get a limo in another state? There’s an app for that. Maybe a website.

Obviously all the solutions wouldn’t be apps lol but i wanted to use the line.

So what do you guys think? How would the world change if everyone were millionaires?

Edit: Okay, apparently there a little confusion.. i don’t mean ‘if the government printed a bunch of money and just handed it out’... the answer to that would be obvious: money would become worthless. What I mean is if everyone created enough value to become millionaires the legit way.

 

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[msufan]

Consider the difference in our standard of living today vs. even just 100-200 years ago. We carry around in our pocket a smartphone that holds more knowledge than the richest person on earth could access back then. We eat foods from all over the world, we can communicate instantaneously with anyone around the globe, we can drive and even fly (fly!!) at speeds unthinkable back then.

In another 100-200 years, imagine another similar shift upward in people's standard of living. It won't be like being a millionaire today, because all-new innovations and technologies that we can't even conceive of yet will be available to the masses then. And people wouldn't stop innovating -- instead, the hedonic treadmill will cause people to view the improvements as normal, and most people will work hard to push for even more.

 

[ChrisV]

Consider the difference in our standard of living today vs. even just 100-200 years ago. We carry around in our pocket a smartphone that holds more knowledge than the richest person on earth could access back then. We eat foods from all over the world, we can communicate instantaneously with anyone around the globe, we can drive and even fly (fly!!) at speeds unthinkable back then.

In another 100-200 years, imagine another similar shift upward in people's standard of living. It won't be like being a millionaire today, because all-new innovations and technologies that we can't even conceive of yet will be available to the masses then. And people wouldn't stop innovating -- instead, the hedonic treadmill will cause people to view the improvements as normal, and most people will work hard to push for even more.

Way off topic but:

Holy shit bro.. i just saw your sig and that shit is sick!!!!!!!!!

Dude I’m a total data nerd.. I was even training to become a data scientist before I got distracted by more entrepreneurial ventures

I love Data. Love it. And I’ve always lived the same way. Believe it can accurately answer any question in life.

This is the description from my Twitter/Facebook pages:

yAximJQ.png

Anyway.. i’m going to leave this post while I go read literally everything on your site.. starting with the Top 8 Must Read list