If we think as a layman, high income is more cash.
Implicitly, this means that the income of an individual is high. That individual is also assumed to be an employee. For an employee to earn a high income, he must have the requisite education and technical skills as well as soft skills in dealing and working with people and even playing office politics well.
In exceptional cases, which are probably rampant in a certain type of environment, it is even possible for individuals without the requisite education and technical skills to earn very high incomes compared with the incomes of highly trained individuals simply by just playing politics, though I would also add stealing ideas from the technically trained. In such a case, the environment degenerates to stagnation (and wallows itself in the so-called "middle-income trap") as the technical workers become demotivated and refused to come up with new and better ideas, and the ideas thieves in order to keep themselves in afloat in their own pool will resort to lies and half-truths as well as mouthing motherhood statements and advertising themselves ceaselessly of their half-baked ideas. This is a mud pool which will suck everybody in contact with it in.
When we think of ways of generating high income for individuals, we think of the educational system as well as the type of investments that are being encouraged in the economy. By definition, investments from low-tech industries generate low-income jobs and investments from high-tech industries high-income jobs. When promoting investment, the job is simply to switch the emphasis from low-tech to high-tech industries. This is no sharp thinking, although it is techically correct.
But when we think about how to create a high-income economy, it is an entirely different thinking process from that of an individual. Afterall, an economy is a system that is dynamic and alive and will either grow or shrink depending on whether certain parameters (such as with regard to optimism) are higher or lower than others (such as the propensity to consume and not invest).
It is not enough just to promote massive foreign investments in order to achieve the target of a high-income economy. While it will create high-income jobs if certain types of investments are encouraged, the problem is the acute dependency on foreign investments which are nothing but foreign savings looking for lucrative environments to make huge profits to pay high dividends to their investors many of which would be houshold savings. In a high saving economy with clever managers of money and investments, it is possible to generate a high-income economy where people living comfortably at home in their own natural environment enjoying life with their families and friends because they save and invest well.
They leave the dirty work to the young strong and educated people of third world countries which ideally should be in the lower middle income, for the children of poor third world are not ideal places for growth of profits. The lower middle income countries do nothing but spend their time talking to foreign investors (and not their own domestic investors), and educate their children to be inward and traditional with a smattering of English in order for them to get by in receiving instructions from their supervisors (when they are given no opportunity to wantonly disobey).
The lowering of the educational standard, or rather the systematic removal of the courage to think aloud and share new ideas, no matter how strange, and at the same time able to conduct decent conversations that do not necesssarily be on topics fashionable in the media at that time, is a sad destruction of the growing environment that is a real obstacle to the growth of a high-income economy. High income does not come from copying and stealing; it comes from original thoughts and ideas.
A high-income economy therefore is not created by investments in high-tech industries where government officials collude with multinationals to use their productive generation purely for the purpose of making profits.
A high-income economy is the product of national economic system that encourages the constant destruction of the old and the constant creation of the new as an essential element of the dynamics of a healthy growing environment which what counts the most is the creation of the new frontier of a growing and living entity. It is this building of the new frontier that is, in boring economic terms, called investment and this investment must intrinsically be undertaking by the citizens of that national economy in order that the growth be of a character that is in line with the spirit of the people. To accomplish this, the people must work hard to learn how to think clearly, discern the old from the new, communicate and share, and collaborate and produce new frontiers, save resources for the future, and keep reinventing themselves.
Then we can see a new dawn.