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posted by on Tuesday February 07 2017, @03:32AM   Printer-friendly
from the can't-get-ahead dept.

American greatness was long premised on the common assumption was that each generation would do better than previous one. That is being undermined for the emerging millennial generation.

The problems facing millennials include an economy where job growth has been largely in service and part-time employment, producing lower incomes; the Census bureau estimates they earn, even with a full-time job, $2,000 less in real dollars than the same age group made in 1980. More millennials, notes a recent White House report, face far longer period of unemployment and suffer low rates of labor participation. More than 20 percent of people 18 to 34 live in poverty, up from 14 percent in 1980.

They are also saddled with ever more college debt, with around half of students borrowing for their education during the 2013-14 school year, up from around 30 percent in the mid-1990s. All this at a time when the returns on education seem to be dropping: A millennial with both a college degree and college debt, according to a recent analysis of Federal Reserve data, earns about the same as a boomer without a degree did at the same age.

[...] Like medieval serfs in pre-industrial Europe, America's new generation, particularly in its alpha cities, seems increasingly destined to spend their lives paying off their overlords, and having little to show for it.

Capital must be extracted.


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  • (Score: 3, Interesting) by migz on Tuesday February 07 2017, @07:58AM

    by migz (1807) on Tuesday February 07 2017, @07:58AM (#463945)

    Monopolies love regulation. That way they can keep competition out. If the government did not create regulations to keep competition out, how would the monopolies maintain their power?

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  • (Score: 0) by Anonymous Coward on Tuesday February 07 2017, @08:54AM

    by Anonymous Coward on Tuesday February 07 2017, @08:54AM (#463950)

    ...how would the monopolies maintain their power?

    Patents.

    I did something. This is my business model. Now, kind sirs, please pass law for me to tell that man down the street that he can't do it too.

    • (Score: 2) by HiThere on Tuesday February 07 2017, @08:43PM

      by HiThere (866) Subscriber Badge on Tuesday February 07 2017, @08:43PM (#464272) Journal

      The clear answer here is that a patent *is* a monopoly and a regulation. The problem being pointed out is actually the selective removal of regulations.

      Unfortunately, things are more complex than that. The unselective removal of regulations would also favor the powerful...though not as much as being able to select which regulations got removed.

      --
      Javascript is what you use to allow unknown third parties to run software you have no idea about on your computer.
  • (Score: 2, Informative) by Anonymous Coward on Tuesday February 07 2017, @02:05PM

    by Anonymous Coward on Tuesday February 07 2017, @02:05PM (#464042)

    You can maintain monopoly using established market power - no regulation needed. How did you think 20s robber barons come about?

    Regulation is not necessarily pro- nor anti-monopolies.

  • (Score: 0) by Anonymous Coward on Tuesday February 07 2017, @06:16PM

    by Anonymous Coward on Tuesday February 07 2017, @06:16PM (#464185)

    Monopolies love regulation.

    Monopolies only love regulation they control. They don't like regulations that stop/break up monopolies. With no regulations, the biggest guy on the block wins the argument and the biggest guy is the monopoly.