Setting aside the problems of poverty and ensuring that every household has a decent income, which is, of course, an entirely different problem, dealing with distribution, not quantity, exactly why should we expect to have ever growing incomes and standards of living?
Every £1, and certainly every £11,000 of incomemeans a larger and greedier demand for the earth resources, already groaning under the demands the current population - and European nations, like the USA and many Asian countries are making demands on the earth resources many times their per head share.
Let us stop greedily grabbing all we can and constantly pushing and shoving to get more and more and concentrate on making sure that the huge oversized heap of resources we already have is more evenly distributed.