In 1977, famed American economist John Kenneth Galbraith wrote one of his most prolific works, a book entitled ‘The Age of Certainty.’ Inspired by events which were taking place in the 1970s – including Watergate, the rise of corporate dominance of government, and high inflation – this book, which was written just before the massive recession of the 1980s, envisioned society at the time entering a very unstable future, one rife with uncertainty with regards to employment, housing, etc.

Here we are, 45 years later, living in such a world envisioned by Galbraith. Incomes have remained stagnant for decades, not keeping pace with the rising cost of all other amenities – especially housing. In keeping with the theme of uncertainty, many careers have become part of what is known as the gig economy, whereby professionals live on continuous (or infrequent) gigs, either on a freelance or contract basis. it is becoming increasingly common for large corporations to operate in this manner, therefore never having to guarantee stable employment or even benefits for that matter.

Even just a few decades ago, a family could survive on one income, with that being sufficient enough to pay the mortgage on a home, a car, education and even some vacations. An individual could work their entire life for one company, retiring with a gold-plated pension.

Sadly, those days are long gone. This constant instability has led to company loyalty declining to all-time lows. Therefore, many ordinary folks have decided that they want to be their own bosses and are turning to entrepreneurship in record numbers.

During the pandemic, when there was an abundance of downtime due to people being at home, they took advantage of this time and began working on their own start-ups and business enterprises, many of which have become quite successful.

There are many advantages of being one’s own boss, as you have much greater independence, control, and can pick your own schedule. Also – especially if you work from home – it’s the end of the rush hour.

That being said, getting a business up off the ground takes a lot of time and effort, which can, when you have a full-time job and family responsibilities to juggle, be more taxing.

Many entrepreneurs of late have tech-related businesses ranging from editing and proofreading services to indie authors and those who offer writing services such as copywriting and ghostwriting, as well as web development, social media marketing, and so many others.

Although the switch to self-employment is growing, much of society remains rooted in the old way of thinking whereby one spends their entire career working for others.

This industrial way of thinking has roots in the Victorian education system where it was understood that children, upon finishing their studies, would go to work for a factory or some related employment field. This method of ‘industrial thinking’ is still prevalent in modern education, but there must be a shift in attitudes to ‘entrepreneurial education’.

In this day and age, candidates for jobs are expected to have entrepreneurial skills, which can be a wide array of abilities. Simply put, one has to have many skills to survive and be successful in today’s economy.

As this shift becomes ever more common, governments will need to adjust tax rates but also be more accommodating of the fact that most citizens in the near future will not be employed by large corporations or even work in brick – and – mortar offices, but in their bedrooms, a café, or on a beach in Mexico or Southeast Asia.