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I think both matt and the wsj are off. It's not about a sense of entitlement or superior productivity (which I don't believe for a minute). The wsj "brat" cha
by kingkongrevenge 18y ago
I think both matt and the wsj are off. It's not about a sense of entitlement or superior productivity (which I don't believe for a minute). The wsj "brat" characterization doesn't match the "lazy" characterization I've more commonly seen.
The real story is that the younger generation doesn't want to work hard because at some subconscious level they understand that the current system will not continue and will not reward hard work as it has. They know they won't see a dime of their substantial FICA withholdings. They know they will not ride another bull market to retirement and collect government checks. Perhaps at some level they have even sensed the precarious state of the dollar and the potential futility of trying to squirrel away wealth. Why work hard when the government will tax or inflate most of it away, and you're unlikely to get good compensation in the first place?
The older generations are too invested in the system to reach similar conclusions. (Though it's interesting that doctors and lawyers are leaving the professions in droves.) It's the psychology of sunk costs. Asking around about social security is highly illustrative. A large fraction of young people will come right out and say SS is probably going to collapse in coming years. Very few people in their 40s will admit to this obvious truth.
This pattern where the younger generation senses the jig is up and gives up the struggle before their elders can admit it is not rare. You can see the same thing in Japan. You saw it in the Soviet Union before the fall.
- pg 18y agoThe real story is that the younger generation doesn't want to work hard because at some subconscious level they understand that the current system will not continue and will not reward hard work as it has. Pundits said exactly that about Generation X in the 90s. They turned out to be mistaken, as you are.
- kingkongrevenge 18y agoI don't see too many X-ers cruising towards a comfortable retirement at 65 like their parents...
- fallentimes 18y ago"The real story is that the younger generation doesn't want to work hard" I'm not saying this isn't true (I don't know). But how could you ever prove this?
- kalvin 18y agoSocial security is not going to collapse unless the rest of the US goes first. It's no more an "obvious truth" than "global temperatures are going to rise 10 degrees by 2100." Yes, it could happen, but only if we do nothing policy-wise to fix it, which is unlikely. Medicare is another story. Look at the this graph to get an idea of the difference: http://www.prospect.org/csnc/blogs/ezraklein_archive?month=05&year=2007&base_name=social_security_as_signifier http://www.prospect.org/csnc/blogs/ezraklein_archive?month=0... (Liberal blog, but the data speaks for itself.)
- kalvin 18y agoI didn't even know it was possible to give a -1! Does that mean a moderator thought I was trolling? First-time user here, let me know if I'm violating a community standard and what's up with the -1... thanks.
- etal 18y agoIt was a little tangential, and making 100-year predictions about global warming probably set off someone's troll-o-meter (wasn't me). Don't worry about 0 or -1; it's usually just a gentle reminder to be polite in these discussions. (Note: nothing annoys people more than commenting on moderation instead of the main article.)