World income, median income, living well and working globally

Ben,

Part of what I am doing is trying to design low cost tools for the 8 billion humans now.  If I can spend three months and spend $500 to focus on VR hardware by buying a few low cost examples ($500 worth) then recommend ways to look at VR and AR without hype, maybe I can save a few trillion dollars by giving people a way to evaluate that fairly, just like you did with your “time value of money” example.

“What is important?”  “Where should we put our time and money?” – those are good questions to help individuals and organizations to answer clearly and efficiently.

The world median income per capita s $2920 per year or $2920/(2000/8) = $11.68 per work day where a standard work year is 2000 hours or 250 eight hour days.

Median means half.  So half the world of 8 billion (4 billion) people live on $2920/365.25 = $7.99 or $8 per day or less

US median income (half) is $75,143
World per capita income (8 billion) is $13,920

$13920 = (50% *  X) + (50%  * $2920)

X = $24,920

So 4 billion people below median income in the world make (2920/24920) = (1/8.5) = about 1 eighth what the upper half do.  It is worse than that, but I am getting too tired and have a head ache.

But some countries have lower cost of living.  So go live in a country with good internet, good healthcare and schools, good quality of life and make money at global salary levels – by working on the Internet.  It is the new world (and eventually heliospheric) economy.