Much has been written about the struggles of the Millennial generation. Endless debates, videos, and articles have been shared about why the millennial generation faces difficulty, and what can be done about it.
But as with most things, it usually comes down to the money. That’s the case here.
Check out the chart below courtesy of Young Invincibles:
In an economy where many people are on the edge of poverty, a 20% gap is a big problem. Keep in mind, this chart isn’t showing the difference between millennials and boomers now, it’s what boomers made when they were the same age as today’s millennials.
The chart shows an economy that is getting weaker and weaker, pushing prosperity further and further away from more people.
That’s why it’s no coincidence that instability is rising in many nations.
The millennial generation is now the largest generation on earth, and has come of age in an era of rapid technological and communications advances. We have seen how complex systems can be managed efficiently and innovatively, and at a low cost.
However, our governmental institutions have not kept pace with these advances, and our economic competitiveness is eroding as we are drowned in foolish regulations and over-centralization. We are taxed more and more for a government that seems to deliver less and less.
This has fuelled growing millennial distrust of politicians, who are often seen as doing nothing but holding us back. This is breaking down trust in institutions.
The financial struggles of millennials, and the growing cynicism and unrest of our era won’t be fixed until our institutions adapt to the new reality and empower individuals, rather than seeking to control them.
As the numbers above made clear, what we’re doing now clearly isn’t working.
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