Research on Future Economy & Understanding human spending

Compiling data on average human spending over the last 200 years involves aggregating various historical economic records, surveys, and studies. Here is a general summary of spending patterns over the last two centuries:

19th Century

  1. Basic Needs (Food and Clothing): The majority of earnings were spent on food and clothing.
  2. Housing: Expenditure on housing was significant but less than today due to simpler living conditions.
  3. Healthcare: Limited spending due to the lack of advanced medical care.
  4. Education: Education spending was minimal, as public education systems were not widespread.
  5. Recreation and Leisure: Minimal spending on leisure activities.

Early 20th Century (1900-1950)

  1. Basic Needs (Food and Clothing): Still the dominant expense but began to decrease proportionally.
  2. Housing: Spending increased with the rise of urbanization.
  3. Healthcare: Began to rise due to advancements in medical science.
  4. Education: More significant spending with the establishment of public education systems.
  5. Recreation and Leisure: Gradual increase with the rise of cinema, sports, and other leisure activities.

Mid to Late 20th Century (1950-2000)

  1. Housing: Became one of the largest expenses due to higher living standards and suburbanization.
  2. Healthcare: Significant increase due to advancements in medical care and insurance systems.
  3. Education: Continued to rise, especially higher education.
  4. Recreation and Leisure: Substantial increase with more disposable income and the growth of the entertainment industry.
  5. Transportation: Became a significant category due to the rise of automobile ownership and air travel.

21st Century

  1. Housing: Continues to be a major expense due to urbanization and rising property prices.
  2. Healthcare: Continues to rise, especially in developed countries with aging populations.
  3. Education: Higher education costs have increased significantly.
  4. Recreation and Leisure: High spending on technology, entertainment, and travel.
  5. Transportation: Still a significant category, though trends towards sustainable and public transportation are emerging.
  6. Technology: Increased spending on personal technology like smartphones, computers, and internet services.

Creating a detailed breakdown of expenses and their percentages over 200 years requires estimating and simplifying data from various sources. Here’s a general approximation of how spending categories have evolved over the past two centuries:

19th Century (1800-1899)

  • Food and Clothing: 60%
  • Housing: 20%
  • Healthcare: 5%
  • Education: 5%
  • Recreation and Leisure: 5%
  • Other: 5%

Early 20th Century (1900-1950)

  • Food and Clothing: 45%
  • Housing: 25%
  • Healthcare: 10%
  • Education: 5%
  • Recreation and Leisure: 10%
  • Other: 5%

Mid to Late 20th Century (1950-2000)

  • Food and Clothing: 25%
  • Housing: 30%
  • Healthcare: 15%
  • Education: 10%
  • Recreation and Leisure: 15%
  • Other: 5%

21st Century (2000-Present)

  • Food and Clothing: 15%
  • Housing: 35%
  • Healthcare: 20%
  • Education: 10%
  • Recreation and Leisure: 15%
  • Other: 5%

Here’s a summary table:

PeriodFood and ClothingHousingHealthcareEducationRecreation and LeisureOther
19th Century60%20%5%5%5%5%
Early 20th Century45%25%10%5%10%5%
Mid to Late 20th Century25%30%15%10%15%5%
21st Century15%35%20%10%15%5%

Notes:

  • Food and Clothing: As societies industrialized and agriculture became more efficient, the relative cost of food and clothing decreased.
  • Housing: Increased significantly with urbanization, the rise of home ownership, and higher living standards.
  • Healthcare: Increased with advancements in medical science, higher life expectancy, and more comprehensive health care systems.
  • Education: Spending on education increased, particularly with the expansion of higher education and the importance of a skilled workforce.
  • Recreation and Leisure: Grew substantially with higher disposable incomes and the development of the entertainment industry.
  • Other: Includes transportation, utilities, and miscellaneous expenses which have varied over time.

future spending model for 2024 to 2050 involves making assumptions based on current trends, economic forecasts, and anticipated changes in technology, demographics, and societal behavior. Here’s a speculative projection of spending categories and their percentages for the period 2024-2050:

Assumptions:

  1. Housing: Continues to rise with urbanization and increased housing costs.
  2. Healthcare: Increases due to aging populations and advances in medical technology.
  3. Education: Remains significant, with higher education and lifelong learning becoming more critical.
  4. Food and Clothing: Decreases proportionally due to efficiency gains and technological advancements.
  5. Recreation and Leisure: Increases with more disposable income and the rise of new entertainment technologies.
  6. Technology: Becomes a more significant expense due to the proliferation of personal and smart devices.
  7. Transportation: Shifts towards sustainable and shared transportation solutions.

Projected Percentages (2024-2050):

  • Housing: 30%
  • Healthcare: 25%
  • Education: 10%
  • Food and Clothing: 10%
  • Recreation and Leisure: 15%
  • Technology: 5%
  • Transportation: 5%

Here’s a summary table for the projected spending model:

PeriodFood and ClothingHousingHealthcareEducationRecreation and LeisureTechnologyTransportation
2024-205010%30%25%10%15%5%5%

Visualization:

Here is a pie chart representing the projected human spending model for the period 2024-2050. The chart provides a visual breakdown of the anticipated distribution of expenditures across various categories.

Key Projections:

  • Housing: Expected to take up 30% of spending, reflecting ongoing urbanization and rising property costs.
  • Healthcare: Projected to increase to 25% due to aging populations and advancements in medical technology.
  • Education: Anticipated to remain at 10%, emphasizing the importance of higher education and lifelong learning.
  • Food and Clothing: Predicted to decrease to 10% owing to efficiency gains and technological advancements in food production and clothing manufacturing.
  • Recreation and Leisure: Estimated to grow to 15%, driven by increased disposable income and new forms of entertainment.
  • Technology: Expected to account for 5%, reflecting the proliferation of personal and smart devices.
  • Transportation: Projected to make up 5%, with a shift towards sustainable and shared transportation solutions.

To compare how different countries might spend their earnings in the future (2024-2050), we can consider factors such as economic development, cultural differences, social safety nets, and technology adoption rates. Here are projected spending patterns for three types of countries: a developed country (e.g., the United States), a developing country (e.g., India), and an emerging economy (e.g., Brazil).

Developed Country (e.g., United States)

  • Housing: 25%
  • Healthcare: 30%
  • Education: 10%
  • Food and Clothing: 10%
  • Recreation and Leisure: 15%
  • Technology: 5%
  • Transportation: 5%

Developing Country (e.g., India)

  • Housing: 30%
  • Healthcare: 20%
  • Education: 15%
  • Food and Clothing: 15%
  • Recreation and Leisure: 10%
  • Technology: 5%
  • Transportation: 5%

Emerging Economy (e.g., Brazil)

  • Housing: 28%
  • Healthcare: 25%
  • Education: 12%
  • Food and Clothing: 12%
  • Recreation and Leisure: 13%
  • Technology: 5%
  • Transportation: 5%

Here are the pie charts representing the projected spending models for the United States, India, and Brazil for the period 2024-2050.

Key Observations:

United States

  • Housing: 25%
  • Healthcare: 30%
  • Education: 10%
  • Food and Clothing: 10%
  • Recreation and Leisure: 15%
  • Technology: 5%
  • Transportation: 5%
    • Notes: High spending on healthcare due to advanced medical systems and an aging population. Significant spending on recreation and leisure, reflecting higher disposable income.

India

  • Housing: 30%
  • Healthcare: 20%
  • Education: 15%
  • Food and Clothing: 15%
  • Recreation and Leisure: 10%
  • Technology: 5%
  • Transportation: 5%
    • Notes: Higher expenditure on housing and education, reflecting the growth of the middle class and emphasis on educational attainment. Healthcare spending is significant but less than in developed countries.

Brazil

  • Housing: 28%
  • Healthcare: 25%
  • Education: 12%
  • Food and Clothing: 12%
  • Recreation and Leisure: 13%
  • Technology: 5%
  • Transportation: 5%
    • Notes: Balanced spending across categories with notable healthcare expenditure. Recreation and leisure spending reflects cultural emphasis on social activities.

Healthcare where human would spend more money from 2025 to 2050

To project the major areas of healthcare where people are likely to spend more money from 2025 to 2050, we can consider current trends, advancements in medical technology, and demographic changes. Here are some key areas where healthcare spending is expected to increase significantly:

1. Chronic Disease Management

  • Diabetes, Heart Disease, and Hypertension: With an aging population and lifestyle factors, managing chronic diseases will become increasingly important.
  • Cancer Treatment: Advances in oncology and personalized medicine will drive higher spending in this area.

2. Aging Population

  • Geriatric Care: Services and products tailored to the elderly, including nursing homes, assisted living, and home healthcare.
  • Dementia and Alzheimer’s Care: Specialized care and treatment for cognitive decline will see increased spending.

3. Technological Advancements

  • Telemedicine: Adoption of remote consultations and monitoring will grow, especially post-pandemic.
  • Robotic Surgery and AI in Diagnostics: Investments in advanced surgical techniques and AI-driven diagnostics.

4. Preventive Healthcare

  • Vaccinations and Preventive Screenings: Increased focus on early detection and prevention of diseases.
  • Wellness Programs: Corporate and personal wellness initiatives to maintain health and prevent illness.

5. Mental Health

  • Therapy and Counseling: Greater awareness and destigmatization of mental health issues will lead to higher spending.
  • Mental Health Apps and Digital Therapeutics: Growth in digital solutions for mental well-being.

6. Pharmaceuticals and Biotechnology

  • Biologic Drugs and Personalized Medicine: Customized treatments based on genetic profiles.
  • Antiviral and Antibiotic Research: Ongoing need for new drugs to combat resistant strains.

7. Medical Devices

  • Wearable Health Tech: Devices that monitor vital signs, fitness, and health conditions.
  • Advanced Prosthetics and Implants: Innovations in prosthetics and implantable devices.

Visualization of Major Healthcare Spending Areas (2025-2050)

I will create a pie chart to visualize the projected distribution of healthcare spending across these major areas.

Here is a pie chart representing the projected distribution of healthcare spending across major areas from 2025 to 2050.

Key Areas of Healthcare Spending:

  1. Chronic Disease Management (20%)
    • Significant focus on managing conditions such as diabetes, heart disease, hypertension, and cancer.
  2. Aging Population Care (20%)
    • Increased spending on geriatric care, including nursing homes, assisted living, and specialized care for dementia and Alzheimer’s.
  3. Technological Advancements (15%)
    • Investment in telemedicine, robotic surgery, and AI-driven diagnostics.
  4. Preventive Healthcare (10%)
    • Emphasis on vaccinations, preventive screenings, and wellness programs to detect and prevent diseases early.
  5. Mental Health (10%)
    • Growth in therapy, counseling services, and digital therapeutics to address mental health issues.
  6. Pharmaceuticals and Biotechnology (15%)
    • Spending on biologic drugs, personalized medicine, and ongoing research for new antiviral and antibiotic treatments.
  7. Medical Devices (10%)
    • Adoption of wearable health tech, advanced prosthetics, and implantable devices.

This projection highlights the expected areas where healthcare spending will increase, driven by demographic changes, technological advancements, and a greater emphasis on preventive and personalized care.