Wednesday, September 9, 2009

Profit margin


In case you can't read the caption, it says "It has yet to turn a profit". The lame pun here would be "It has yet to turn a prophet". But that wouldn't have been very New Yorker-y.

Although, come to think of it, if it hasn't turned a profit yet, it may soon. From this excellent "This American Life" podcast about the financial mess, there was a discussion of the amount of money on the entire planet. It took until the year 2000 for humanity to accumulate a grand total of $36 trillion. Then, from 2000 to 2006, the total glonal amount of money added another $44 trillion, for a grand total of $80 trillion. Then the financial crisis hit and from 2006 to now, that global pile of money sent to.., $83 trillion. That's right. Despite the mess the humans still added $3 trillion. Even at that slower "global recession" pace, that's still adding well over $100 per person per year to global wealth. Imagine what would happen if the global economy actually starts heating up again. In the 10 years before the global recession hit over 100 million people climbed up beyond the global poverty level. That's faster than population growth (which is slowing). We could actually be closing in on the end of poverty. Would that qualify as turning a profit for God?

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