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You've probably heard, Earth's population reached seven billion on Halloween.  There have already been a lot of news articles, blog posts and social media updates on this milestone.  So, we decided to take a look at Earth's seven billion people from an economic point of view.

Since most of us probably do not deal with numbers this large on a daily basis, let's start by looking at how big seven billion really is.

• Counting to seven billion would take more than two centuries
• Seven billion seconds ago was the year 1789
• Walking around the equator, seven billion steps would take you around the world at least 106 times.

So, how are all these people supporting themselves?

Right now, two percent of the world's population owns 50 percent of the world's wealth.  Part of the reason for this divide is that fertility declines as prosperity and income levels rise.  In Africa, for example, the fertility rate expects six to seven children per woman.

The world's population has not stopped growing, either; it's expected to reach nine billion by the year 2045.  And, because of the relationship between income and fertility, most of the population's expected increase is suppose to occur in lesser developed areas.  The population of Africa alone is anticipated to triple in the next century.

If the population increase continues as expected, the two percent of the people who own 50 percent of the wealth will continue shrinking, and more than 98 percent of the world's population will share only 50 percent of the world's wealth.

These statistics are only a few of the reasons fair trade is so important.  Purchasing fair trade assists in getting money into under privileged communities in the developing world.  That money goes toward providing education and health care -- both of which are proven to lower fertility rates.  Purchases from companies like VirtuArte, who sell products made by women artisans, can help women in developing countries provide for themselves and become a valuable resource to their families financially.

For more information about what having seven billion people on the planet means, download National Geographic's 7 Billion App on your smart phone or iPad.