What If a Child Received Their Labor Pension at Birth?

 

What If a Child Received Their Labor Pension at Birth?

Imagine a world where a child is given their lifetime labor pension at birth. This pension would be designed to cover the value of their expected work throughout their lifetime. The child, from day one, starts receiving a monthly yield, a kind of interest or income from this pension. With this income, the child pays for the labor required to maintain their life and services that are provided by society. This idea brings up a fascinating question: would this child ever need to do any labor at all?

Let’s explore this concept step by step.

1. What Is a Labor Pension?

A labor pension is essentially a financial reward or saving system that people receive after years of working. It helps them support themselves after they retire and are no longer able to work. In most cases, people work for decades, contributing a portion of their earnings to a pension fund, and when they stop working, they start receiving payouts from this fund to live on.

2. Pension at Birth – How Would It Work?

Now, imagine that instead of waiting until retirement, a child receives their entire pension at birth. The amount would be based on how much they are expected to work and earn throughout their lifetime. This lump sum of money would be invested, and the child would receive a monthly payment, or yield, generated by this investment.

For example:

- If a person is expected to work for 40 years and earn $2 million during their lifetime, the pension they receive at birth would be based on this expected earning. If the money is invested wisely, it could generate a steady income for the child throughout their life.

3. Using the Yield to Pay for Labor

The idea is that the monthly yield from this pension would be used to pay for services the child needs, like education, healthcare, food, and housing. All of these services are the result of other people’s labor. So, instead of the child working to earn money, they use their pension yield to "pay" for the labor of others.

4. Would the Child Have to Work?

At first glance, it might seem like the child wouldn’t need to work at all. Since the monthly yield from their pension covers the cost of labor, the child could theoretically live without ever doing any labor themselves.

However, there are a few important things to consider:

Cost of Living: The cost of living changes over time. Inflation might increase the prices of goods and services, so the monthly yield from the pension might not be enough to cover everything. In that case, the child would need to find other ways to support themselves, which might include working.

Investment Risks: If the pension is not invested wisely, the yield could decrease, leaving the child with less money than expected. This could also force them to work to make up the difference.

Personal Fulfillment: Beyond the financial aspects, humans have a natural desire to contribute to society and find purpose in what they do. Many people enjoy working because it gives them a sense of accomplishment, creativity, and social interaction. Even if a person doesn’t *need* to work to survive, they might choose to work for these reasons.

5. The Role of Society

This concept would also depend heavily on the structure of society. If everyone received a labor pension at birth and didn’t need to work, who would perform the essential tasks needed to keep society running? While some jobs might be automated in the future, many roles, such as healthcare workers, teachers, and engineers, still require human input. If nobody needed to work, it’s possible that society would face a shortage of workers in critical areas.

6. The Future of Work

In a world with rapid technological advancement, it’s possible that many jobs could be automated. In such a world, fewer people would need to perform manual labor, and the economy might shift toward creative, intellectual, or emotional labor. This could mean that even if a child received their pension at birth, they might choose to work in these areas to find meaning and contribute to society.

Conclusion: Would the Child Need to Do Labor?

The answer is both yes and no. Financially, the child might not *need* to do labor if their pension yield covers all their needs. However, there are many other factors at play, such as the cost of living, the potential for investment failure, and personal desires for fulfillment and contribution. 

Ultimately, even in a world where a child receives their labor pension at birth, work might still be a crucial part of life for reasons beyond just financial necessity.