Some propose a basic income or negative income tax as updated versions of the communist iron rice bowl.
There are strategies for individuals for creating more sources of income –
1. Purchase stocks and other investment instruments which will provide dividends or interest
2. Have property that will pay rents
3. Try to set things up where your expenses are flexible and variable. Have superior financial management when you have a job or income and pay down debt or restructure debt.
4. If a worse case scenario starts to unfold (looking at a long period of no salary or reduction in rents or asset values) then try to anticipate and sell assets that can cancel out debts.
5. Try to have other skills developed and alternative career planned out. Part time work could be more rapidly transitioned into new full time work. Ideally this is like a hand off in a relay race where the previous runner runs alongside the next runner as he gets up to speed.
6. Have close relations with family or close friends where you can get help until you get back on your feet.
7. Find ways to more rapidly re-educate /retrain for the next job
8. Be more mobile so that you can move to another city or region or country where your skills are still needed.
What capabilities should be more enduring
* being able to start a profitable new business on your own
* real estate rents and property values in highly productive locations
* being able to efficiently sell and trade
* stock – corporate values in winning companies
Strategies for countries
1. Developer faster and more effective training and retraining
2. Create a stronger entrepreneurial capability and ecosystem
3. Develop a more resilient position in emerging industries
4. Develop more flexibility and faster response in the social safety net
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.