Wisdom in Times of Economic Insecurity

We may say that there is no true security in life, but certainly fear seems more realistic in times of personal or general economic insecurity. I think of economic value or wealth as flowing from innovation, one of The 7 Dimensions of wisdom. Innovation occurs when creative ideas are brought into social reality and become products or services; or improvement in products or services. To feel economic insecurity is then not only to be lacking material things, but also to have one’s sense of social value and creativity diminished. Therefore in a personal or a generalized economic crisis, one of the first things that must be recovered is the sense of one’s creative powers, the ability to generate ideas and to impact the world with them; to cast off the bonds of powerlessness.

To lack the money and resources for necessities like shelter, food and health care leads to real physical pain and suffering. But to fear the lack of money and resources is a pain in the mind that must be overcome in order for the creative idea-generating capacities to function. It is that creative capacity that can frees us from the chains of economic want in both the near and long term. This creativity can include ideas on where and how to find work, as well as ideas that can ultimately make you economically independent.

Assurance (or faith) is another of The 7 Dimensions of Wisdom that comes into play in the difficult journey from idea to a successful result. Assurance is the ability to endure and persevere even when it may seem reasonable to quit, or when there appears to be no reasonable or observable basis for hope of success. One gets to that point sooner or later in any serious endeavor. In the Bible, the Book of Hebrews defines faith this way: Now faith is being sure of what we hope for and certain of what we do not see. Whether or not one is Christian or even religious in any way, faith of this kind (being sure of what we hope for and cannot see) is exactly what can give us resilience in challenging situations. It is not rational in the usual sense, but it is an essential part of what helps human beings to survive extreme challenges or to achieve high levels of performance.

In his books Seasons of a Man’s Life and Seasons of a Woman’s Life, Daniel Levinson provides long term and in-depth case studies of the careers and life development of men and women from a variety of occupations. One of his interesting findings is the importance of having a dream or vision for one’s career, and also the inevitability of disillusionment that one experiences at midlife or thereafter. Even those who are clearly successful in terms of position, money or awards and acclaim, experience a sense of their own limitation as they grow older. Perhaps this is related to a growing realization that regardless of one’s achievements, death is inevitable.

This disillusionment can also be caused at any point in your career by a general economic decline, or by a decline in your specific economic situation and prospects. This can include being fired or laid off or losing your business or home. If the situation goes on for some time, it is likely that you will be challenged by a sense of hopelessness and helplessness. At such times, it is especially important to reconnect to the creative spark within you, and to nurse it into a flame.

Don’t expect to necessarily follow the same path you were pursuing earlier, but do nurture that hope and faith in your creative possibilities. Everything of social value, including all the wealth, technology and knowledge and art, began as an idea in someone’s mind, and had to be laboriously brought into reality. Each of us still has the creative capability, and especially in times of economic insecurity, we must mine that ore of wisdom and continue to create value.