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It's great, it use to be the opposite. For centuries prior the elderly were subjugated to the mercy of the young (like many Asian economies and as one could im
by ethn 8y ago
It's great, it use to be the opposite.
For centuries prior the elderly were subjugated to the mercy of the young (like many Asian economies and as one could imagine in primate hierarchy groups), due to physical labor being the largest source of wealth. In contemporary society, the contrary is true given that physical labor has been a diminishing source of wealth. Today's economy is one where experience and knowledge triumphs, as physical labor is rapidly replaced through automation. Society is still far from it, but as close to a meritocracy as it has ever been.
- Fauntleroy 8y agoExcept over time the young will find it less and less likely that they'll be able to afford a home, up until it's impossible or the system breaks entirely...
- deleted 8y ago[deleted]
- ethn 8y agoOr what the article and research by AEI and Thomas Sowell has implied: you'll be able to afford a house when you're older since nowadays you become more valuable the more knowledge you gain.
- so33 8y agoFor many centuries, land ownership was (and in fact still is) the largest source of wealth. Historically, it conferred not only wealth but also power. This was the key characteristic of the feudal system.
- deleted 8y ago[deleted]
- ethn 8y agoLand is a store of wealth, that's not the source of wealth. If we look at the Forbes top 20 richest people compilation, we would be hard pressed to point out anyone who made the majority of their wealth through land.