There are solutions for the lack of local labor force.Importing workers, products and services(IT, call centers and others ) is one solution - in saudi arabia 5

There are solutions for the lack of local labor force.Importing workers, products and services(IT, call centers and others ) is one solution - in saudi arabia 50% of workers are immigrant workers. Automation is the other one - given lack of workers there are many things that could be automated with a decent quality. So the economy could adjust. But i think the redistribution method you offer is too fast and extreme and that what will cause it to fail. But there are other ways to redistribute wealth, that could gradually lead to a stable economy. Free healthcare, basic income and subsidized housing and the general welfare state had been tried before , and they work pretty well in some countries. But would they be able to scale to make jobs optional ?