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“Since the end of the Second World War, middle- and working-class people across the Western world have sought out—and, more often than not, achieved—their aspirations. These usually included a stable income, a home, a family, and the prospect of a comfortable retirement. However, from Sydney to San Francisco, this aspiration is rapidly fading as a result of a changing economy, soaring land costs, and a regulatory regime, all of which combine to make it increasingly difficult for the new generation to achieve a lifestyle like that enjoyed by their parents. This generational gap between aspiration and disappointment could define our demographic, political, and social future.
In the United States, about 90 percent of children born in 1940 grew up to experience higher incomes than their parents, according to researchers at the Equality of Opportunity Project. That figure dropped to only 50 percent of those born in the 1980s. The US Census bureau estimates that, even when working full-time, people in their late twenties and early thirties earn $2000 less in real dollars than the same age cohort in 1980. More than 20 percent of people aged 18 to 34 live in poverty, up from 14 percent in 1980. Three-quarters of American adults today predict their child will not grow up to be better-off than they are, according to Pew.
These sentiments are even more pronounced in France, Britain, Spain, Italy, and Germany. In Japan, a remarkable three-quarters of those polled said they believe things will be worse for the next generation. Even in China, many young people face a troubling future; in 2017, eight million graduates entered the job market, but most ended up with salaries that could have been attained by going to work in a factory straight out of high school.”
JJ Editor's Daily Picks
"With many other countries already studying the Asian playbook, the United States and Europe could benefit from doing the same."
"Trump's cursing is one of the most straightforward parts of his appeal... Trump is not the only politician whose profanity has stood him in good stead."
"‘If we get all of this because Netanyahu wants to make Trump happy, that’s fine with us,’ says local council rep in Golan Heights as plans ramp up for ‘new’ neighborhood honoring U.S. president..."
"...there is something worth paying attention to in this latest petition from fans keen to have a creative work made the way that they want it. The comments on the petition are instructive."
"The sunny job numbers and steady growth hide the fact that most people think the economy works only for people in power."
"Like many other Americans, I now wear AirPods all day at my desk to combat the awful tyranny of the open office. Since they don’t cancel noise, they provide me with writing music..."
"The logic of attributing mental states to nonhuman animals is complicated. We cannot use deductive inference, because there are no general rules..."
"As the canon of English literature slowly, gradually opens itself up to books by women and authors of color, Modern Library and Penguin Classics have just launched two new series..."
"Egalitarian couples assume their progressive ideology will carry the day. Sociologists know that it doesn’t.... sharing child care is associated with valuing gender equality..."
"Business Booms for Sephardic Food: Women are leading the way as small businesses bring traditional recipes to the commercial marketplace..."
"With most animal populations, the niches that encase the populations are of constant size. Animal societies growing in a given niche have dynamics neatly fitted by equations with a constant limit or ceiling."
"Now some 200,000 Jews live in Germany, a nation of 82 million people, and many are increasingly fearful.... 85 percent of respondents in Germany characterized anti-Semitism as a “very big” or “fairly big” problem..."