But I don't want to join their club. I just want "content economic security." I want to be near my children as they grow up, and know that they will get an equally good start to their lives and careers. So how do we set up a system where anyone who wants to take on a manageable amount of risk (i.e., reasonable debt with, say, a 1-3 year breakeven point) ensure that minimal level of security?
I think the real problem is that there are very few truly moral means of obtaining that security. The world is now "small." I'm not saying we're at carrying capacity, but ask yourself: where else is there to go, and what is the next frontier? Can we continue to exploit land and labor in developing countries? Not forever, and not morally (even now).
Those with tremendous amounts of accumulated capital are the ones who hold the pursestrings on all major developments in the world today. But they aren't interested in investing if there aren't major "VC-style" or disruptive returns on their investment. So how does each of us absorb a reasonable amount of risk, get a reasonable return, and do it morally? I don't know the answer yet, but for starters it would be nice to have far, far lower barriers to entry for small-scale entrepreneurs, and it would be nice to decentralize things a bit. John Robb at Global Guerrillas thinks the answer is in blockchain companies.
This chart has been making the rounds recently ... I think it sums up my fears: