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Good article. I'd add one more bit, though: it's not between youth and old; it's between risk takers and risk avoiders. The last thing the majority dreams abo
by maurycy 17y ago
Good article.
I'd add one more bit, though: it's not between youth and old; it's between risk takers and risk avoiders.
The last thing the majority dreams about is risk. So the gov takes care and tries to minimize the risk. The minimum wage, enormous benefits for not very innovative public workers, interest rates' manipulation etc.
Of course, if you minimize the risk you also minimize the social mobility. It's hard to get a reward, without risk.
- joe_the_user 17y agoOddly enough, the post-WWII generation did much better than the present generation without being notable for risk taking. I mean, declining education levels, deteriorating infrastructure, and many other causes might be pointed to for the decline of America. Considering that, as you say, only a minority is ever going to risk-inclined, the decline of America can't be chalked up to risk-aversion. And also, when the health care system declines, the risk of catastrophic becomes something that an individual isn't very capable of managing.
- hga 17y agoThat's not a very telling point, since we were the industrial nation least trashed by WWI, and were considerably strengthened by how the war compressed say half a century's worth of technological progress into a half a decade. For example so very many things came out of RADAR R&D ... *including microwave ovens :-), but also stuff that fed into the Whirlwind computer project (the first practical computer), etc. etc.