I don't have any statistical data on hand to back this up but I wonder if this girl has also considered the fact that the Boomer generation is going to be retiring in droves within the next 10 years or so. And they did not "boom" out nearly as many of us as there are of them. So it seems like laws of supply and demand would be kicking in soon and working in our favor.
However, we have also managed to create technology that often replaces us or at least makes us adjust our occupations. I don't think people are buying fewer cars than they did in the 1970's (probably its actually more), but I do think GM as well as all the foreign car companies have come up with ways to make cars using a lot less people.
Hence, more education is needed to continue creating technology that diminishes the numbers of workers and materials to produce projects. More education = more time in school = starting adult life later.
These are just my random thoughts on it - this book does sound pretty intriguing though.
J.C.,
Good to see you, man! It's been a while!! Sorry for being so out of touch.
Good points. She does address the boomers retiring, but unfortunately paints a slightly more grim picture. It entails our generation working far-less lucrative service industry jobs to support our parent's generation through retirement. Because of this, the percentage of jobs that actually require a college diploma (now only about 30%), may become even more lopsided, making it a calculated risk to even go to college and into debt for it.
The problem isn't so much that there are fewer jobs, they're just not as good as they used to be. There are certainly a small percentage of jobs that are outstanding. But Richard Florida made the point that for every software engineer making $70,000 a year, there's four $10/hour IT helpdesk jobs that support that engineer and his subordinates...and a lot of those manning the helpdesk spent $30,000 going to college too.
I'm hoping it gets better. Hope life is good for you guys. I need to shoot you an email. Talk to you soon, buddy.
m & k - interesting concept. i have a handful of friends these days who I believe are being exploited - working long hours for mediocre pay - gambling with the hope to work their way into a true vocation. it's scary when you heap consumer and college debt on top of that reality.
and Walmart... i know we're all hard on them, but, yeah, $8/hr is ridiculous.
i think i shall have to read this book. intriguing. i'm beginning to think that we will never own a house here, no matter how much we make. the average price of a home in the city? $800,000. And i STILL haven't seen one for less.
The Boomers retirement is going to be tough on us GenXers. The whole Social Security debacle (where the Boomers threw the party and will expect the Xers to clean up after it) alone will keep us from getting our SS. (and don't give me any baloney about the "guarantee" through 2030--I ain't buyin' it. If it happens, delightful. If it doesn't, well, no big surprise)
And, there was a time in our recent history where companies took care of their long-term employees with benefits and security and retirement. My grandfather did the 35 year, gold watch thing and my dad and mom never changed the people they work for.
I'll say this, though: The thing I like most is the encouragement to do what you love regardless of pay rather than "get a good job you hate and move to the 'burbs." I like the bohemian spirit of the new generation (who, by the way, is brilliantly capaple of going around the system through entrepreneurship--which is ultimately where the big bucks are anyway) which requires innovation and creativity. They excel in both of those areas...which American generally admires and rewards financially.
I'm learning a lot about all of this stuff in my macroeconomics class and some of my other business classes, and its depressing to hear about all of these problems...
I think the first step is getting more young people to vote. Old people vote.
brent - the grups!
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