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It’s really the folks in their 20s and 30s, the generation between X and Z, we should spare a thought for: the Millennials.
Boy, do they keep getting shafted https://trib.al/QaFKxfu
Boy, do they keep getting shafted https://trib.al/QaFKxfu
It started with the financial crash of 2008.
The Great Recession hit just as the Millennials were hoping to start their careers. Suddenly, all the good jobs were gone, and they were more likely to be unemployed than the older generations https://trib.al/QaFKxfu
The Great Recession hit just as the Millennials were hoping to start their careers. Suddenly, all the good jobs were gone, and they were more likely to be unemployed than the older generations https://trib.al/QaFKxfu
Even a decade after the crash, all but the most educated Millennials earned and saved less than Xers or Boomers did at the same age.
Lower entry-level salaries can have consequences (“wage scars”) that last an entire lifetime https://trib.al/QaFKxfu
Lower entry-level salaries can have consequences (“wage scars”) that last an entire lifetime https://trib.al/QaFKxfu
After that previous labor-market trauma, a lot of Millennials took whatever gigs they could find:
Bartenders
Baristas
Waiters
Contract workers
These are exactly the types of jobs that fell away during the lockdowns and may not come back soon https://trib.al/QaFKxfu
BartendersBaristasWaitersContract workersThese are exactly the types of jobs that fell away during the lockdowns and may not come back soon https://trib.al/QaFKxfu
Millennials have a right to be frustrated.
But what makes many of them irate is watching the older generations milk the system at their expense, through what some economists call “Boomer socialism” https://trib.al/QaFKxfu
But what makes many of them irate is watching the older generations milk the system at their expense, through what some economists call “Boomer socialism” https://trib.al/QaFKxfu
Generous pensions are going to Boomers in most developed countries, which are paid for largely by Millennials and Xers.
In the U.S., there’s also health care that’s universal for the old (Medicare) but often unavailable or unaffordable for the young https://trib.al/QaFKxfu
In the U.S., there’s also health care that’s universal for the old (Medicare) but often unavailable or unaffordable for the young https://trib.al/QaFKxfu
In many countries, the Boomers have also bid up house prices beyond the reach of Millennials.
Oh, and there’s the mountain of student-loan debt bearing down on many American Millennials https://trib.al/QaFKxfu
Oh, and there’s the mountain of student-loan debt bearing down on many American Millennials https://trib.al/QaFKxfu
The hypocrisy of Boomers explains why some Millennials have been embracing the loaded word “socialism.”
It’s these fed-up young voters who boosted the campaigns of lefty Boomer populists like Bernie Sanders in the U.S. and Jeremy Corbyn in the U.K. https://trib.al/QaFKxfu
It’s these fed-up young voters who boosted the campaigns of lefty Boomer populists like Bernie Sanders in the U.S. and Jeremy Corbyn in the U.K. https://trib.al/QaFKxfu
The West should revive classical liberalism:
Health care should always be universal
Pension reform is a no-brainer
Tax simplification could cut loopholes
The idea of a UBI should be studied
This would give Millennials a fairer, more liberal deal https://trib.al/QaFKxfu
Health care should always be universalPension reform is a no-brainerTax simplification could cut loopholesThe idea of a UBI should be studiedThis would give Millennials a fairer, more liberal deal https://trib.al/QaFKxfu
