Haves Versus Have Nots

I bought a smart shirt in ASDA for £2. I like a bargain but there’s something wrong here. There must be two hours work for someone to produce a shirt from scratch. Subtract overheads, materials, distribution, profit: whoever made this shirt is being paid £0.10 per hour.
Wikipedia gives world GDP at $85,000,000,000,000 (eighty-five trillion US dollars) and world population at 7,000,000,000 (seven billion).
Simple arithmetic tells me that, if we could distribute the world’s wealth evenly between each man, woman and child, we could each expect a salary of $12,142, tax free, each year. We could live on that, couldn’t we?


About micklively

Fifty-something, pacifist, six sigma black belt, lean implementer, brewer, vintner, guitarist, wood-turner, and slave to collies.
This entry was posted in economics, income, salary, wage, wealth, world and tagged , , , , , , . Bookmark the permalink.

I will be pleased to read your thoughts, even if you don't agree.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s