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    The Atlantic | Derek Thompson | 1/27/20 | 6 min
    22 reads3 comments
    9.1
    The Atlantic
    22 reads
    9.1
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    • thorgalle7 months ago

      A European student here, from Belgium but now living in Sweden. I found this article intriguing.

      I had good medical support from governments all my life, and am studying "for free" (interesting article!) now without a loan.

      45 percent of Americans ages 25 to 34 have student loans, compared with just 16 percent of Baby Boomers at the same age.

      That's just crazy. I pity the non-EU friends here who don't automatically enjoy the benefits I do. The pressure they are under to get high-paying jobs to pay off those loans makes them stressed, and it's an obstacle to job happiness as well. But it's not just the loans, as the article above states. It's also the amounts & interest rates. Loans needn't be bad it seems.

      It seems that years ago, society in Europe chose more social services over less taxation and higher wages. More in the socialist direction, but when reading this, it doesn't seem to me like a bad choice; and I believe it also decreases the rich/poor divide.

      Young people in their late 20s and early 30s today are about one-third less likely to own a house than their parents were at the same age, according to the Federal Reserve.

      The housing problem exists in EU cities as well. The developments discussed in the article also coincided with huge population growth, and I'm wondering how much that affects the ability to own homes. If we bump on some space limits, we might not be able to do much about it.

      Rent control has a history of reducing new construction, both by discouraging builders from investing in new buildings and by encouraging owners to convert their properties into condos, thus reducing the total stock of rental units and driving up rents.

      This is an interesting argumentation, but very free-market capitalistic in nature. Not what I had expected from the title! Nice that the author seeks balances and highlights past problems.

    • jbuchana
      Scribe
      7 months ago

      My children are having a much rougher time than I did at their age. The opportunities just aren't there.

    • Alexa
      Scout
      7 months ago

      Pretty sharp criticism in this one. I'm not totally pro-Bernie but this is an interesting take on a generation that is highly critical of anything that sniffs of socialism.

      Also...v relatable, especially having read This Could Be Our Future recently:

      For young Americans, there is a mounting sense that whatever the ladder to adulthood is—or whatever traditional or normative markers of financial independence have been historically associated with adulthood—it’s been shattered by modern American capitalism.