>total amount of wealth in the world: 255 700 billions
>gross world product (2016): 75 000 billions
Help a noob out. Does this mean the wealth of the entire world will be doubled in about 3,5 years (255700/75000)?
And is there some institution that adds more money on Earth to match all this increasing wealth?
And how does one take in the fact that the value of existing wealth will diminish when more wealth is generated?
>>3077727
that's not how this works man, you're not even moving in the right direction this is like how kids think man
>>3077751
Nice provocation
okay so the first question is obviously false as i found that total wealth changes about +-5% per year
so most of the GDP is consumed? and existing wealth breaks/depreciates?
world wealth increased by 5000 billions from 2015 to 2016 while world gross product was about 72 000 billions so 93% of the GDP was consumed/depreciated?
So the whole world economy is based on growth, without growth, it will collapse, or crash. But after a crash it can start to grow again, this is why recessions and economic crisises are great.
The wealth of the entire world won't necesarily be doubled in such a short period. It also depends on the $ and inflation and on global economic growth. But even if everything goes great, it will probably take much longer than 3 years for it to double, depending on lots and lots of factors.