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datadataeverywhere comments on Optimal Employment - Less Wrong
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I've always been interested in why personal identity was tied up in a career. If you self identified as a mathematician, why couldn't you earn more money being a bartender in Australia while spending your free time doing math and participating in the mathematical community?
I know "scientists", "artists", and "teachers" who identify as such and make their money doing other things. At the extreme end, if you identify as a teacher why not spend 15 hours a week making a very high income doing XYZ and maybe 35 hours a week volunteering/working for low wages at a tutoring center? You're undeniably a teacher, and you likely have more disposable income.
I suspect most people don't have the self-discipline for it; being "forced" to do something almost every day is a good way for most people to ensure they work on something that has high barriers to productivity (most difficult pursuits), even if they really enjoy it.
Possibly even more importantly, individuals almost never have access to the infrastructure and support systems they need to do really interesting things[1]. How should one go about advancing genetics without a lab? Even a small university didn't really have the resources I felt I needed to do some of my research, but at my lab they're not even costly (to me or the lab) to procure. Access to petabyte data sets? Petaflop computers? The marginal cost of granting an additional person access is minimal, but I don't know of any institutions that grant such access to local bartenders.
[1] Art can mostly be excluded, but not entirely, since some great art is still really expensive to produce.