As I stood in the shower this morning, hot water cascading over my firm naked flesh (*cough* sorry, wrong site *cough*) ......
Just before I dived in the shower this morning I'd been reading a few arguments in different internet spaces about the #occupy protests, capitalism, money, social order and mobility, benefit cuts, austerity and it got me thinking. If we were to balance the current financial inequality in the world, redistribute ALL of the wealth equally, what would be the outcome?
I think I know what I think would happen but I'm curious to know what everyone else believes the consequences of such a move would be.
So here's the mental game I was playing for you join in with
1. At Midnight on Dec 31st 2012 the newly formed Entire World Transitional Government Concord (EWTGC) declares that on Dec 31st 2020 they will redistribute the wealth of the planet so that every person alive has an equal share. Children under 8 years old will be entitled but cannot access their share until they are 8, anyone born after that date will not be entitled to a share.
2. People can do whatever they want with their wealth. It will belong to them after the redistribution and the EWTGC will not interfere with their actions, apart from enforcing contract law and basic common law or acting as arbiter to resolve disputes.
3. There is no escaping from the action. The super wealthy will not be able to hide any assets from the EWTGC and access them after the redistribution.
Additional (from comments): 4. For the sake of the exercise "wealth" refers to financial/fiscal/monetary wealth and not human skills/abilities/attributes.
What are the various future impacts of the action? Discuss the probable outcomes for 2025
Once you've thought about it write it up and post it online. Leave the link in the comments and I'll add it here (Equally if you think there's any 'assumptions' that I've missed feel free to suggest them via the comments. I'll add them as appropriate).