North America primarily consists of Canada, the United States, and Mexico. In regards to Canada, their average income per capita is pretty much on the same level as the United States. However, when it comes to Mexico, their per capita income is perhaps about 1/3rd of what the United States, so represents, which seems quite paltry, until such is compared to the world, at large, in which case, Mexico’s aggregate wealth is actually not really that bad.
We find that North America represents about 4.73% of the total population in the world, but we read per the Credit Suisse global wealth report, that for 2020, North America, had close to 33% of the entire world’s personal household wealth, which represents a ratio of wealth to population of nearly 7x. That is to say, North America’s population is, on average, 7 times wealthier than what the average wealth is so represented for the world, at large. Not too surprisingly, this means in virtually every category, if not every single one, that North America has the richest, the wealthiest, and therefore the most money and material assets than any other continent, in which their closest competitor in this, is the European continent which comes up second in personal household wealth.
Those that are American, pretty much know all of what has been stated above, but herein lies the rub, for that continent which is the wealthiest, along with it also being the most powerful in the world, finds that it somehow still has not been able to fully alleviate poverty within its own shores. That is to say, we find that in North America, as estimated by census.gov that is has an official poverty rate of 11.4%. So then, for all those that sell the lie, that a rising tide, lifts all boats, this clearly is not the case at all, especially, when it comes to wealth distribution. Further to the point, the disparity between those that have it all, as compared to all those have little or nothing, is ever-increasing, which doesn’t make a whole lot of sense, especially in this the modern age of social services, welfare, and a governance which is large enough, and seemingly powerful enough, along with it also having access to plenty of credit and tools to avail itself of, so as to do a far better job in taking care of those that are its most vulnerable.
How fair or justified that it is that North America has so much more wealth, than its population so represents, is not an easy question to answer; but suffice to say, that North Americans are not seven times smarter, nor do they work seven times harder, or do much of anything, seven times better than the world, at large. This would seem to signify that a meaningful percentage of the wealth in North America, seems to have come forth, from North Americans basically exploiting and manipulating their advantages over weaker nations, peoples, and companies, throughout the world, along with it also having a very big stick that North Americans are prone to use or threaten to use against others. In short, North Americans are in aggregate, very rich, and for those that have that money and those assets, life is exceedingly comfortable; of which, many a North American believes that they deserve such or have fairly earn such, which may not really be all that true.