[Leanan]

Why getting ahead is getting harder for young adults and why it's not their fault

It's an excerpt from a book called Strapped. Seems to be arguing that the good jobs that required only a high school diploma have disappeared overseas. A 4-year-degree is your ticket to the middle class these days, but it's one many people simply cannot afford. Even those who do get that degree often have a mountain of debt to pay off once they get out of school. The gap between the haves - the colleged-educated - and the have-nots is widening.

The author seems to be arguing that the economic boom of the post-war years was due to the affordable college educations the GI bill and other programs provided. That these educated workers invented all the cool stuff that created jobs for everyone else.

Me, I'm inclined to that she's mistaking correlation for cause and effect. We had energy to burn after the war, and so could afford to pay for free education, invest in R&D, and create an economy with lots of jobs.

I think this is another aspect of Tainter's declining marginal returns. When the manufacturing jobs were all outsourced, they said, "Don't worry. Get educated, and you'll get a better job." Heck, George Bush is still saying that. Only not everyone can afford that education. And now, it's people with college educations, even graduate degrees, who are losing their jobs overseas. What are they supposed to do, get two PhDs instead of just one? How can they afford that?

[crow]

The middle class, with the help of the lower class, shall overturn the upper class.

The famous 'George Owell' principal.

Soon to take effect? Think a revolution is in the makings?

[Doly]

$this->bbcode_second_pass_quote('crow', 'T')he middle class, with the help of the lower class, shall overturn the upper class.

[Leanan]

Dunno if there's a revolution in the making, but there will be, if energy prices keep rising (and I suspect they will). Both the Republicans and the Democrats are clueless.

If someone ran for president on Lou Dobbs' platform - pro-labor, anti-outsourcing, anti-illegal immigration - they would win in a landslide. But neither Republicans nor Democrats can do that without infuriating a huge chunk of their constituents. There's a lot of people who are unhappy with both parties.

[Novus]

$this->bbcode_second_pass_quote('Leanan', 'A')nd now, it's people with college educations, even graduate degrees, who are losing their jobs overseas. What are they supposed to do, get two PhDs instead of just one? How can they afford that?

[PenultimateManStanding]

$this->bbcode_second_pass_quote('Novus', '')$this->bbcode_second_pass_quote('Leanan', 'A')nd now, it's people with college educations, even graduate degrees, who are losing their jobs overseas. What are they supposed to do, get two PhDs instead of just one? How can they afford that?

[AmericanEmpire]

$this->bbcode_second_pass_quote('', '.') . .and have to work three burger flipping jobs just to make the student loan payments.

[Leanan]

The McPaper has a review of the book:

Young adults face intense financial challenges

Of the generation born between 1971 and 1987, the author says, "They will be the first generation who won't match the prosperity of their parents."

But probably not the last...