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The plight of the MBA generation
- ares2012 16y agoIf you ignore the over-arching message about the Federal Reserve, the article is very poignant. This quote sums it all up: " there are 50-years-olds who may never work again." It's sad to imagine working your entire career to build a resume for a job that disappears. While half of me feels sorry for them, the other half thinks about the blue-collar workers who have existed this way for a long while. It's not uncommon to work in a factory for a long while and then lose your job - having such specialized skills that you can't find work. That's why they have unions. Maybe the age of the white collar worker is changing. Maybe they need unions too.
- zwieback 16y agoEuropeans have gotten used to much higher "natural" unemployment rates between 8 and 10%. In the US there has been a succession of bubbles that have hidden a lot of the inefficiencies and we are only now coming to the realization that a lot of us are just not needed at all. It will be harder here since the idea of long term government support is not popular, especially in the current climate.