Esquire Magazine recently published a story that is one of the best assessments of what today’s young people face in today’s economy that has been written. Stephen Marche takes a no-holds-barred approach and speaks with honesty that many of those over 40 years of age may not like, but really need to read.
In The War Against Youth, Marche writes: “The recession didn’t gut the prospects of American young people. The Baby Boomers took care of that.
Twenty-five years ago young Americans had a chance.
In 1984, American breadwinners who were sixty-five and over made ten times as much as those under thirty-five. The year Obama took office, older Americans made almost forty-seven times as much as the younger generation.
This bleeding up of the national wealth is no accounting glitch, no anomalous negative bounce from the recent unemployment and mortgage crises, but rather the predictable outcome of thirty years of economic and social policy that has been rigged to serve the comfort and largesse of the old at the expense of the young.
Since the beginning of the Industrial Revolution, human potential has been consistently growing, generating greater material wealth, more education, wider opportunities — a vast and glorious liberation of human potential. In all that time, everyone, even followers of the most corrupt or most evil of ideologies, believed they were working for a better tomorrow. Not now. The angel of progress has suddenly vanished from the scene. Or rather, the angel of progress has been sent away.”
This is a must-read for young people, Baby Boomers and those who are concerned about their children and grandchildren’s future. The entire article in Esquire by Marche can be read here.