The young are languishing in a society set up to favor the wealthy and the rich, and burden them with reduced opportunity. We have had 40 years plus of neoliberal politics, where the transfer of wealth from the middle classes to the rich, has been justified as required for economic growth. Young people today need a university degree, yet we make them pay the price of their education, and they go into the work force with a huge debt accumulated from this education.
The jobs market has been restructured to allow very low wages, as a norm, with millions of middle management and manufacturing jobs now no longer available. The young with dreams of owning property in the city they grew up in, are faced with spiraling property price increases, so that now it is unlikely many will ever be able to own a home. So they soon realize that they missed the boat with buying property, while their parents and grandparents have huge amounts of equity built up in the family home. A massive education debt, combined with low potential for a high income career, and it is no wonder the younger generations feel they are not on a equal playing field.
Older generations enjoyed free education, and higher wages, with government assistance in building their wealth. Tax incentives are still enjoyed by the wealthy, and the older people are always calling out for more assistance, at the expense of the younger tax payers.
Graduates from universities are uncertain about the real economic value of their degrees, the demand for jobs at entry level has never been lower. The universities also lowered the value of the degrees, by lowering entry standards, so that many more people are available with the degrees, than are required for many occupations. While we live in a knowledge based world, the push for so many young people to complete degrees, has created an imbalance of over educated graduates forced to take unskilled and very low paid jobs.
Free trade policies have led to the decline of manufacturing industries, with millions of jobs lost. Trades and technical skills have not been encouraged, and the middle management jobs are lost as well.
We have set up a world, where the wealth and lifestyles enjoyed by the baby boomer generation, cannot be replicated by the majority of their children and grandchildren.
Social change in leading to much higher levels of young and middle aged adults, never owing a home, always having to fork out more and more in increasing rent prices. They pay a higher proportion of their incomes in housing rent or mortgages then any previous age groups.
How do young families manage to save for housing, when they have such high debts built up for education. The scales are now unbalanced with most of the wealth resting in the hands of the ultrarich the top 10%, and they are making the rules, and setting up the young to be slave labour.
In past generations strong labour unions, managed to allow middle income families to earn a decent living. The rich of course have reset the employment markets, so that lower real wages are all that is available for most workers. Of course the younger generations, are barely represented in government, so the transfer of wealth continues at a faster and faster rate.
Media is not reporting on the extent of social decline, young people need to organize, and force changes to create some rebalance of wealth distribution.
Do what you can to create well paid employment for others, and seek to report on the real conditions in your community. It is well past the time to stop the drain of wealth, on the younger members of society.
Remember life is a beach
this photograph is my own and i hold all rights to use it
