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http://www.tvhe.co.nz/2011/09/19/bleg-generation-war/ The Visible Hand in Economics Mon, 19 Sep 2011 06:01:17 +0000 hourly 1 https://wordpress.org/?v=6.9.4 http://www.tvhe.co.nz/2011/09/19/bleg-generation-war/#comment-34241 Mon, 19 Sep 2011 06:01:17 +0000 http://www.tvhe.co.nz/?p=6274#comment-34241 Us Gen Yers are probably lucky in the sense that we have no illusions about what “loyalty” means in the modern economy due to the fact that the economic reforms were firmly embedded by the time we had to worry about education and occupations. Makes it so much easier to bail and leave everyone to their short-sighted mess! 

]]> http://www.tvhe.co.nz/2011/09/19/bleg-generation-war/#comment-34240 Mon, 19 Sep 2011 05:25:05 +0000 http://www.tvhe.co.nz/?p=6274#comment-34240 One other thing I could add which could piss me off if I was a younger man.. legislation.
 
20 years ago we increased the age of Super entitlement from 60-65.. now the boomers are going to have to hang in there at work even if they want to leave. And the Human Rights Act of similar vintage means you cannot discriminate in employment against the older man (all other things being equal), thus reducing flexibility and renewal.
 
JC

]]> http://www.tvhe.co.nz/2011/09/19/bleg-generation-war/#comment-34239 Mon, 19 Sep 2011 03:16:43 +0000 http://www.tvhe.co.nz/?p=6274#comment-34239 Anyone born about 1940-60+ grew up in two worlds.. an older more agriculturally based one with religion, Sunday School, roasts on Sunday, stable married parents where there was deep shame to be unemployed, mentally ill, single for too long and so on.
But he also had choices.. he could go to the freezing works and earn five times as much as an apprentice or clerk, or he could go the freezing works for the big money to start with and then move with little added education into the rapidly expanding technological, manufacturing and services industries where on job training was given.
Once there, he was settled, stable and needed till at least 1985, and even if he got the shove under Douglas his prior work record stood him in good stead for future employment, albeit perhaps on a lower wage.
In a way this relates to your above post on wealth concentration and demographics. The 50+ generation are a pretty stable lot who were able to get in on the ground floor of a lot of jobs before they required a degree or the oppressive regulatory syndrome of later years. I might add that a society back then with a median age of 23 was a lot more forgiving of yahoos, drunken behaviour and general mayhem than a society with a median age of 37!
JC

]]> http://www.tvhe.co.nz/2011/09/19/bleg-generation-war/#comment-34236 Sun, 18 Sep 2011 20:52:40 +0000 http://www.tvhe.co.nz/?p=6274#comment-34236 I think Gen X (I am a member of the mid-70’s tail end) does have a point, but I don’t think it is specifically that baby boomers are any more selfish than normal.  What Gen X have seen is a significant increase in inequality – the gouging out of the middle of the income distribution, so there is more distinction between the haves and the have-nots, and the have-nots blame the previous generation as a whole.  I think the forces that drive income and wealth inequality are endogenous (perhaps moreso than in the past) so this trend is likely to continue with Gen Y – the riots in London are evidence for this.  (the irony is of course that many baby boomers and now Gen Xs have moved up the income distribution due to actually working hard, so they feel they are being criticised and punished for that by the next generation)

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