Have the Boomers Pinched Their Children’s Futures? - with Lord David Willetts

There is definitely a serious intergenerational fairness issue here. One of the best expositions of the problem I've seen is this talk by Tory peer (and boomer!) Lord David Willetts. [VIDEO]

Income and wealth after Gen X is trending down for same age groups according to your sources. It also follows the conclusion from this talk [1]. Another thing to keep in mind is with decreasing birth rates, future generations will have a higher tax burden to support the aging costs of the previous generations. [1] [VIDEO]

I think a good explanation of the phenomenon is detailed here: [VIDEO] (it's a 50 min talk and targets the UK, but it's applicable to the Western world IMHO). The summary is: - People are working more and reaping less and less from their labor - Social security is getting both worse and less accessible for people in the working age - Working people in general have a much harder time entering the house market and when they do the bang for the buck is way worse than in the past - Retirement plans are getting worse and worse - Millennials and younger people will likely have to drastically reduce their carbon footprint by as much as a factor of 8 compared to the previous generations if we want to hit climate goals for the century Apart for the carbon one, the others are things I am also witnessing both in Switzerland and Italy. And with these premises I don't find surprising that people consider "working hard" or even working not worth it.

You might find this video interesting from a UK perspective, I suspect with a mix of overlap and difference to the USA: [VIDEO] David Willets draws comparison of "boomers" to other generations, and includes what is paid into healthcare vs. what is consumed in a lifetime.

Older people being richer is actually a relatively modern phenomenon. Ref: "Have the Boomers Pinched Their Chiren's Futures", David Willets, Royal Society lecture. [VIDEO]

You are looking at specific instances. For me it's about the systemic, large scale effects of the system. People routinely partake in exploitative systems without ill intent. The examples you provide could be applied in spirit to child labour. Is every instance of child labour immoral? I don't think so. But using the example of, how you as a 15 year old mowed some lawns to defend systemic child exploitation seems to miss the mark for me. I believe not all instances of landlordism are bad, but as a whole its effects on society are very negative. And that remains true even if all landlords were friendly and full of good intentions. The systemic effects remain the same. This talk for example while focused on a different topic covers some of the large scale effects [VIDEO] .