Time has a list of ten ideas that are changing the world right now. This is not a typical mindless list (e.g. green energy! um…more green energy)…there’s some good stuff here. Jobs Are The New Assets asserts now that making money with money (i.e. stocks and property) while you sit on your ass all days doesn’t fly, your job is your main source of income and financial stability.
All the while, we blissfully ignored a little concept economists like to call human capital. The cognition you’ve got up there in your head — your education and training — it’s worth something. We can extract value not just from our homes and our portfolios but from ourselves as well. The mechanism for extracting that value? A job. “The income you earn from working is like the stream of interest income you might get from owning a bond,” says Johns Hopkins University economist Christopher Carroll. “Think of it as a dividend on your human wealth.”
Michael Lewis recently said something similar in an interview for Big Think.
When you think of making money, think of what you do for a living, not the financial markets.
Amortality is my favorite entry on the list. It’s a more general version of the Grups theory put forth in New York magazine three years ago. An amortal person is someone who lives a similar lifestyle all throughout their life, from their teens to their 80s.
For all the optimism about how science may prolong life, mice and humans keep turning up their toes. No matter how much the government bullies and cajoles, amortals rarely make adequate provision for their final years. Yet even as faltering amortals strain the public purse, so their determination to wring every drop out of life brings benefits to the private sector. They prop up the tottering music industry, are lifelong consumers of gadgets and gizmos, keep gyms busy and colorists in demand. From their youth, when they behave as badly as adults, to their dotage, when they behave as badly as youngsters, amortals hate to be pigeonholed by age.