See also war-chest: le2 H.Yin
Extracted from a longer blogpost [21]livelihood[def2] x-class #S.Liu
— welfare state, nanny state and the big brother
If you live in a reasonably /functional/ economy, then half of your livelihood concerns are at least partially /provided/ by the state or an efficient, affordable (free) market “system”. Otherwise, you need private resources to fend for yourself or join private “clubs” that provide livelihood /support/ to paying members. Using the U.S. as an example,
- nutrition + education + housing + transport have functional systems, but the healthcare “system” is notoriously unaffordable, forcing consumers to acquire expensive health insurance.
- Some middle-class parents also perceive education provision as inadequate, and opt for private schools, but I doubt it is for livelihood reasons.
- [[Nomadland]] makes a point that during the subprime period, many homes were actually unaffordable to the average American, but these subprime home buyers were enticed to buy beyond their means, and eventually forced into nomadland.
Singapore livelihood systems are as well-managed as Scandinavian systems or any other countries, until covid19 lock-down uncovered /fault lines/. Perhaps half the workers experienced a (temporary) job loss or income insecurity. I had a rare glimpse into the livelihood concerns among Singaporeans.
I’m fully aware that my livelihood concerns are a distant threat because in Singapore I’m able to enjoy a decent living at a reasonable cost-to-my-family because about half of the livelihood needs are supported by the nanny state. I recently reconnected with a China->Singapore->
When we move to the U.S. our livelihood concerns would grow. By the Singapore standard, I feel most Americans are left to fend for themselves. I’m now building a war-chest ($200k – $400k) precisely for this reason.