It's the baby boomer phenomenon. They reaped the rewards back then and are still reaping the rewards. The benefits have been following that age group through their lives. Its like a rolling window.
somewhat tangential, but most interesting phenomeon is the phaseshift non-boomers will undergo when they're around 45, surveying what's left, realizing how much they have paid into the system already, and desperate to claim the same rewards. it's a perpetuum mobile. if it needs to end, the young will have to wrestle it from their seniors _now_, because that gap closes fast.
Most developed countries are peaking in costs to young people right now. The people entering workforce now are getting a huge bad surprise, but the cost of supporting older people will start to decrease very soon.
So, if you are looking for some future phase shift, you are searching for the wrong thing.
Also, most of the developing countries will be in that situation in ~20 years. Most underdeveloped ones will get there in an extra decade or two.
Can you blame them for existing during early globalization, before over the financialization of everything? It's not like they actively took more than they "should have" from anyone directly, it's a consequence of their local economy and where it was at the time.
> It's not like they actively took more than they "should have" from anyone directly
And who do you think exactly contributed to the over financialization of everything? Every single thing, good or bad, is a direct result of the actions of the generation before. We can thank them for creating a world where women get to vote but also criticize them for creating a world where everything costs a million dollars and all young people can earn is pennies. At any point in time they could’ve been like “this may not in my selfish interest, but it will ensure the future generations can have the same life as i do” and pushed for policies accordingly. But that didn’t happen.
You _can_ blame them for several high-impact things they willingly did or at least supported, e.g. benefiting greatly from public spending yet successively voting to restrict it later on; f*cking over the real estate market and squeezing younger generations with extreme rents/prices; refusing any kind of social reforms while it has been obvious for decades that current models don't scale; decoupling of productivity from wages; and last but not least racking up huge carbon debt that later generations will pay dearly for.
trgn|26 days ago
marcosdumay|26 days ago
So, if you are looking for some future phase shift, you are searching for the wrong thing.
Also, most of the developing countries will be in that situation in ~20 years. Most underdeveloped ones will get there in an extra decade or two.
dinobones|26 days ago
darth_avocado|26 days ago
And who do you think exactly contributed to the over financialization of everything? Every single thing, good or bad, is a direct result of the actions of the generation before. We can thank them for creating a world where women get to vote but also criticize them for creating a world where everything costs a million dollars and all young people can earn is pennies. At any point in time they could’ve been like “this may not in my selfish interest, but it will ensure the future generations can have the same life as i do” and pushed for policies accordingly. But that didn’t happen.
dotdi|26 days ago
unknown|26 days ago
[deleted]
kridsdale1|26 days ago