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If all countries were developed countries, could the Earth sustain us all?

We all despise poverty, and everything that goes with it - hunger, abuse, slavery, poor education, and so on. We would prefer if everyone lived a comfortable life, educated with a decent house and job, sufficient food, electricity, indoor plumbing, washing machines, stoves, computers and other comforts.

Can the Earth sustain such a lifestyle for everyone? If not, what would need to be changed?

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    May 16 2011: I suppose that I have a rather pragmatic view about the relationship between developed and undeveloped countries. It seems to me that Newton's third law (for every action there is an equal and opposite reaction) applies here; one nation cannot become developed without harming the economy of another developed nation. So it seems to me that if all countries were on the road to becoming developed, the Earth, the world economy and the world's food supplies would all fail to sustain our new way of life. It is unfortunate, but history implies that it is true.

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