Rarely does a day seem to pass without a politician or an opinion‐maker commenting about the dim prospects for the younger generation to lead a life that won’t be as bright as their parents’. Such a perspective is only partially correct, at best.
The future‐being‐bleak commentary is in the context of employment and earnings. That is, indeed, not off the mark.
Thanks to competition that is now global, merely being born an American is neither necessary nor sufficient in order to lead a materially rich life, which is a shocking contrast to the old dominant narrative of a home with white picket fences being possible only, and anywhere, in America.
Thanks to competition that is now global, merely being born an American is neither necessary nor sufficient in order to lead a materially rich life, which is a shocking contrast to the old dominant narrative of a home with white picket fences being possible only, and anywhere, in America.
However, this dim view of the future is only partially correct.
Not because of a proposition that the US will continue to be the most dominant economy—whether or not it will be is immaterial. But, we need to keep in mind that this paranoia over the future is merely about the economic aspects.
Not because of a proposition that the US will continue to be the most dominant economy—whether or not it will be is immaterial. But, we need to keep in mind that this paranoia over the future is merely about the economic aspects.
Life is a lot more than merely economics. When we talk about the life that the youth have today—and will face in the future—and contrast that with the life in the decades past, we are conveniently overlooking many important non‐economic issues that will tell a completely different story.
Consider, for instance, the rights that people have now and compare that with those in the fabled Eisenhower era. MAGA overlooks how life back then was typically difficult for anyone who was not born with a privileged skin tone and into a privileged religious category.
In contrast, the country is now, for the most part, “free at last, free at last.” We have had a non‐White as the President, who was even re‐elected to that post. General Motors, whose CEO proclaimed in the Eisenhower days that what is good for GM is good for the country, has a female CEO—Mary Barra--who is now playing hardball with the union. There are plenty of female business leaders now compared to the generations past.
One can think of many, many more examples that are phenomenal evidence for how much freer we are as a people and, therefore, how much more possible “life, liberty, and the pursuit of happiness” is. Is this not a much better country that the youth are inheriting, which they can—and will—make it even better?
In contrast, the country is now, for the most part, “free at last, free at last.” We have had a non‐White as the President, who was even re‐elected to that post. General Motors, whose CEO proclaimed in the Eisenhower days that what is good for GM is good for the country, has a female CEO—Mary Barra--who is now playing hardball with the union. There are plenty of female business leaders now compared to the generations past.
One can think of many, many more examples that are phenomenal evidence for how much freer we are as a people and, therefore, how much more possible “life, liberty, and the pursuit of happiness” is. Is this not a much better country that the youth are inheriting, which they can—and will—make it even better?
Sure, there is a great deal of economic activity going on in China—our economic competitor that apparently makes us tremble with fear—but a mere reminder of the smog in many of the cities there will send you gasping for air.
One could list plenty of examples here to further the idea that the youth are inheriting a world that is in a good shape compared to centuries past. Should this not be a cause for celebration, instead of simply moaning about a perceived loss of global economic domination?
One could list plenty of examples here to further the idea that the youth are inheriting a world that is in a good shape compared to centuries past. Should this not be a cause for celebration, instead of simply moaning about a perceived loss of global economic domination?
I wish we would look at the future through a comprehensive framework. We need to recognize and understand how awesome the present is and then focus our efforts on how to make the future even more awesome.
In my profession, I focus on the economic aspects and make sure that students gain an understanding of the rapidly changing economic global landscape. However, even in those classes, I often remind students that there is more to life than a pursuit of material happiness. Even the students who sleep through my monotonous monologues get the message that economics is merely one part of life, whose importance is dictated only by the values we ascribe to it.
In my profession, I focus on the economic aspects and make sure that students gain an understanding of the rapidly changing economic global landscape. However, even in those classes, I often remind students that there is more to life than a pursuit of material happiness. Even the students who sleep through my monotonous monologues get the message that economics is merely one part of life, whose importance is dictated only by the values we ascribe to it.
My point is this—despite all our shortcomings, we have somehow managed to create a world that the younger generations will certainly improve upon.
The future does look challenging, no doubt, when it comes to jobs and economic competition. And immensely more challenging when one thinks about how tRump and his 63 million are preventing us from doing the right things for a sustainable economy and environment.
But, imagine trying to put a dollar value on the fact that people are immensely freer than ever before, or that we don’t choke when we breathe in the air, or that we don’t die from drinking the water--despite all the attempts by a powerful few!
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