4 ms·

I'm always perplexed by the (possibly rhetorical) surprised tone of these kinds of articles. As if it wasn't glaringly obvious that young people are getting scr

I'm always perplexed by the (possibly rhetorical) surprised tone of these kinds of articles. As if it wasn't glaringly obvious that young people are getting screwed because of their lack of employment histories combined with an ultra-competitive job market (for most industries). The discussion then usually turns to how young people have useless degrees or are lazy or entitled, or some other monday morning quarterback commentary. The reality is that prior generations goofed off and made blind decisions just like this one. They just had more of cushion to rebound from. I'm steadily employed in a fantastic job but have been on the other side of the fence as well. One thing is obvious: most white-collar, educated people who already had jobs before 2008 are doing just fine, haven't noticed a thing, and don't give a neuron to thinking about unemployed people. This is just another indication to me that there is a growing class divide and there will be plenty of losers (and no, the rising tide doesn't help undeveloped, inexperienced college grads with nondischargable debt). The means of production are now more abstract than owning factories -- they're owning the information networks. We have yet to see anything close to the sufficient political will or desire in DC to bust up these modern day trusts (like Teddy Roosevelt did with the industrialists a century ago). By design, they're harder to identify and harder to educate the public about. And with mass media stomping out thoughtful journalism due to basic economics and a civically uninterested public, where's the opposition going to come from? If you happen to be in a line of work that helps those in power (like most programmers), you'll probably thrive. If you don't, you're going to have a tough road ahead: our public institutions are behaving more and more like results-driven board-run corporations. They're misappropriating improved efficiency to matters that benefit more from longer-term strategies ("Instant Dashboards! Metrics! Data-Driven Decisions!"). I fear most the speed at which the consolidation of power could take place (aided by the speed of technological progress). Have a great weekend :)

paganel 13y ago
> One thing is obvious: most white-collar, educated people who already had jobs before 2008 are doing just fine, haven't noticed a thing, and don't give a neuron to thinking about unemployed people. I remember reading an article around 2008 (in the Economist, I think) based on a (then recent) research paper that showed that people who graduated during a recession had a lot more to lose in the long run (smaller wages etc) compared to people who graduated during "normal" times. We're 5 years later, the "recession" supposedly ended three or four years ago (I'm talking about the US here), and yet things don't seem to have reverted back to normal. Unless maybe this is in fact the new normal.
- nicholas73 13y ago
  I read the same article. It said graduates during a recession may take up to a decade to have their wages catch up to what it might have been had they graduated during normal times.
jellicle 13y ago
> (and no, the rising tide doesn't help undeveloped, inexperienced college grads with nondischargable debt) But there isn't a rising tide. Wages are falling. If you work for a living, your job will pay you less next year than it did this year.

paganel 13y ago

> One thing is obvious: most white-collar, educated people who already had jobs before 2008 are doing just fine, haven't noticed a thing, and don't give a neuron to thinking about unemployed people. I remember reading an article around 2008 (in the Economist, I think) based on a (then recent) research paper that showed that people who graduated during a recession had a lot more to lose in the long run (smaller wages etc) compared to people who graduated during "normal" times. We're 5 years later, the "recession" supposedly ended three or four years ago (I'm talking about the US here), and yet things don't seem to have reverted back to normal. Unless maybe this is in fact the new normal.

nicholas73 13y ago
I read the same article. It said graduates during a recession may take up to a decade to have their wages catch up to what it might have been had they graduated during normal times.

jellicle 13y ago

> (and no, the rising tide doesn't help undeveloped, inexperienced college grads with nondischargable debt) But there isn't a rising tide. Wages are falling. If you work for a living, your job will pay you less next year than it did this year.