The intellectual dark web

[you&me]

Originally Posted by PsYcNeT

Could have something to do with the fact that most millennials are economically worse-off than their parents were at the same age, something something failed by the system something growing wealth disparity something something shrinking middle class.

You're not going to have a favorable view of a system that seems to only perpetuate wealth among the wealthy while your slice of pie grows smaller with each passing generation.

I'll acknowledge there are 500 million factors that play into this (globalization, western world no longer getting fat on the backs of second/third world countries, etc.) but it's the immediate appearance of disparity that is the major player imo.

This is probably veering off topic, and I'm not disagreeing with what you're saying, but how do you expect the millennials will react when they're the benefactors of the largest transfer of wealth ever?

[PsYcNeT]

Lack of health care (or at least, a really crippled version of it that half the country is actively trying to repeal) would probably make you think that US-style capitalism really isn't all it's cracked up to be. Particularly if you had some kind of genetic or hereditary illness.

Originally Posted by you&me

This is probably veering off topic, and I'm not disagreeing with what you're saying, but how do you expect the millennials will react when they're the benefactors of the largest transfer of wealth ever?

I'm not sure I follow. Do you mean from their boomer parents? Is this "largest" calculated as a gross total or per capita? Because I don't really believe it if it's a per capita amount.

[sworkhard]

Originally Posted by CliffFletcher

The rational approach is to look at why indigenous youths are over nine times more likely to commit crimes than their representation in the Canadian population. Given what we know about crime, it's likely due to being raised in single-parent households, surrounded by substance abuse, with no examples of deferred gratification leading to a better life.

But if being raised in single-parent homes, surrounded by substance abuse, and with no clear incentive to defer gratification and get an education are bad things for Native youth, they're also bad for non-Natives.

So why try to fix things at the age of 23 or 30, when it's too late? And why not deal with the problem by addressing single-parent households, family environments with substance abuse, and incentives to defer gratification for all youth?

I'm pretty sure that solving single parent households, substance abuse, etc, requires fixing the 18-35 year old age group in particular. They are after all, the group that tends to be parents of young children who are most affected by this bad behavior. This is one of the cases where you can't fix one problem without fixing the other; which makes it extraordinarily difficult to solve.

[corporatejay]

Originally Posted by Makarov

What? I mean, I could say the same about anyone advocating for political change (including, for example, tax cuts).

Yeah I don't know. it wasn't a very well thought out post.

[Makarov]

Originally Posted by corporatejay

Yeah I don't know. it wasn't a very well thought out post.

I'm no stranger to those either.

[icecube]

Originally Posted by you&me

This is probably veering off topic, and I'm not disagreeing with what you're saying, but how do you expect the millennials will react when they're the benefactors of the largest transfer of wealth ever?

Sadness because their parents are dead?

[burn_this_city]

That depends on the parents.

[you&me]

Originally Posted by PsYcNeT

I'm not sure I follow. Do you mean from their boomer parents? Is this "largest" calculated as a gross total or per capita? Because I don't really believe it if it's a per capita amount.

I'm not sure of the per capita numbers, but the value of the wealth that will be transfered from the boomers to their 'heirs' in the US is widely reported to be US$30T and a large portion of that is expected to end up with millennials.

My point was that the "less well off than their parents" portion of their lives is limited for a large number of millennials. I guess I'm curious if you think the view of capitalism by millennials will change once a large number of them receive a windfall from the system they currently have such an unfavourable opinion on?

Edit - There are approximately 80 million millennials in the US, so the per capita value would be approximately $375,000!

[PsYcNeT]

Is that before or after estate taxes?

Also I'm having trouble corroborating these numbers. What's your source?

Most of what I'm reading is saying that millennials won't start seeing that money for another 15-20 years, well beyond their growth years (home buying, family having, etc.) which is...unfortunate.

[DiracSpike]

Originally Posted by rubecube

Young people are turning to socialism because capitalism is failing them and there are relevant, successful, modern examples of socialist governance.

Yeah Venezuela's doing great.

Our economy is stagnating because people are too fat and happy and have forgotten what enables our standard of living. The blocking of Kinder Morgan pipeline is a perfect encapsulation of this.

[lambeburger]

Originally Posted by DiracSpike

Yeah Venezuela's doing great.

But that's not real socialism though.

[you&me]

Originally Posted by PsYcNeT

Is that before or after estate taxes?

Also I'm having trouble corroborating these numbers. What's your source?

Most of what I'm reading is saying that millennials won't start seeing that money for another 15-20 years, well beyond their growth years (home buying, family having, etc.) which is...unfortunate.

Some time lines vary, but the transfer of boomer wealth has already begun.

30 Trillion Dollars

83 Million Millennials (I oopsie'd in my last post by 3 million of 'em, er, us).

[GirlySports]

"most millennials are economically worse-off than their parents"

This statement bothers me. This may be true but it's because millennials spend a hell of a lot more than their parents did. Eating out, clothes, vacations etc...

[Makarov]

Originally Posted by DiracSpike

Yeah Venezuela's doing great.

Our economy is stagnating because people are too fat and happy and have forgotten what enables our standard of living. The blocking of Kinder Morgan pipeline is a perfect encapsulation of this.

Bangladesh has one of the most capitalist economies in the world. It's also doing great.

[PsYcNeT]

Originally Posted by GirlySports

"most millennials are economically worse-off than their parents"

This statement bothers me. This may be true but it's because millennials spend a hell of a lot more than their parents did. Eating out, clothes, vacations etc...

Source?

I'll tell you one thing, my mortgage is a far greater percentage of my gross expenses than it was for my parents.

[you&me]

Originally Posted by GirlySports

"most millennials are economically worse-off than their parents"

This statement bothers me. This may be true but it's because millennials spend a hell of a lot more than their parents did. Eating out, clothes, vacations etc...

Maybe that's why they disagree with this whole thing called "capitalism"... It's capitalism that created the iPhone and capitalist marketing that says you have to have one, along with the 200gigs of data, etc, etc...

Damn you capitalism... that is until I reap the benefits of capitalism by way of inheriting the wealth it created for my parents

[PepsiFree]

Originally Posted by rubecube

Young people are turning to socialism because capitalism is failing them and there are relevant, successful, modern examples of socialist governance.

While I’m not sure how many examples of socialist governance there are that we can point to as beacons of hope, I do agree that capitalism is failing.

The problem (or one of many) inherent in capitalism is that it creates alienation and a loss of humanity. I think the teachings of Marx are becoming more relevant because we have examples of capitalism’s failure left right and center. The rich are unecessarily rich, the poor are unecessarily poor, economies in even 1st world countries are exceeding unstable, housing prices are both too high and unstable, etc.

The problem, I think, is that because of some especially bad examples of socialism in practice, capitalism has reached a near-religious status for many older generations, and because of their adherence to it younger generations are being left in a very troublesome economic state.

Capitalism has taught older generations to place money above all else. It’s given rise to a highly consumerist culture that values excess and “things” more than education, personal growth, and fulfilment. Younger generations are rejecting this, in part because capitalism is it’s own worst enemy. By creating a system where it is exceeding difficult to have more than “enough,” you teach younger generations to be satisfied with “enough,” and they begin to reject the culture of excess.

The value you give to your employer will never equal the value they get from employing you, not in the current system. And while some major companies and some of the richest people in the world give back in some very positive ways, were they simply to be satisfied with “enough,” then they could put that money back into their company and distribute the wealth among their employees, or put that money towards raising up a much bigger portion of the population.

A system based on greed disguised simply as ambition is one that’s destined to fail. I doubt we’ll ever seen the end to any sort of capitalist ideas, but I do find it ironic that people who look down their noses at “Marxism” are likely generally incomplete people. There is always something else they “could” have, whether it is needed is irrelevant. Many younger people are forced to be complete with what they DO have, and eventually, capitalism as we know it will die because those it has failed will continue to outweigh those who have benefitted from it again and again.

[CorsiHockeyLeague]

Originally Posted by Makarov

Bangladesh has one of the most capitalist economies in the world. It's also doing great.

I don't really know anything about the Balngladeshi economy, but can you explain what you mean by "most capitalist economies in the world"?

[Makarov]

Originally Posted by CorsiHockeyLeague

I don't really know anything about the Balngladeshi economy, but can you explain what you mean by "most capitalist economies in the world"?

https://www.google.ca/amp/s/www.forb...ist-haven/amp/

I'm no expert. Just googled it.

Only point is that there are so many factors that determine economic success for states. Free markets are no panacea. Free markets are important of course, but so is smart regulation, strong justice systems, effective social programs, etc.

[Winsor_Pilates]

Originally Posted by PepsiFree

While I’m not sure how many examples of socialist governance there are that we can point to as beacons of hope, I do agree that capitalism is failing.

The problem (or one of many) inherent in capitalism is that it creates alienation and a loss of humanity. I think the teachings of Marx are becoming more relevant because we have examples of capitalism’s failure left right and center. The rich are unecessarily rich, the poor are unecessarily poor, economies in even 1st world countries are exceeding unstable, housing prices are both too high and unstable, etc.

The problem, I think, is that because of some especially bad examples of socialism in practice, capitalism has reached a near-religious status for many older generations, and because of their adherence to it younger generations are being left in a very troublesome economic state.

Capitalism has taught older generations to place money above all else. It’s given rise to a highly consumerist culture that values excess and “things” more than education, personal growth, and fulfilment. Younger generations are rejecting this, in part because capitalism is it’s own worst enemy. By creating a system where it is exceeding difficult to have more than “enough,” you teach younger generations to be satisfied with “enough,” and they begin to reject the culture of excess.

The value you give to your employer will never equal the value they get from employing you, not in the current system. And while some major companies and some of the richest people in the world give back in some very positive ways, were they simply to be satisfied with “enough,” then they could put that money back into their company and distribute the wealth among their employees, or put that money towards raising up a much bigger portion of the population.

A system based on greed disguised simply as ambition is one that’s destined to fail. I doubt we’ll ever seen the end to any sort of capitalist ideas, but I do find it ironic that people who look down their noses at “Marxism” are likely generally incomplete people. There is always something else they “could” have, whether it is needed is irrelevant. Many younger people are forced to be complete with what they DO have, and eventually, capitalism as we know it will die because those it has failed will continue to outweigh those who have benefitted from it again and again.

I can't say I've ever met many of these young people; and I'm technically a millennial.