Re:Young 'to be poorer than parents at every stage of life'
by harryh on Tuesday November 24, 2015 @05:18PM
(#10623974)
1) The labor force participation rate is declining primarily due to an aging population. And even with the decline it's still much higher than it was at any time before the mid 80s (primarily due to women entering the workforce).
2) The % of the world living in extreme poverty has declined dramatically in the past half century.
The story of the last 50 years is really about members of the western middle class finally having to deal with competition from the rest of the world due to globalization. While this has certainly had some downsides for the western middle class it has been an INCREDIBLY HUGE BOON for everyone else. It's very hard to overstate how fast east asia has transformed from poverty to relative wealth and how good this has been for hundreds of millions of people.
2) The % of the world living in extreme poverty has declined dramatically in the past half century.
http://www.vox.com/2015/8/13/9145467/extreme-poverty-global-...
The story of the last 50 years is really about members of the western middle class finally having to deal with competition from the rest of the world due to globalization. While this has certainly had some downsides for the western middle class it has been an INCREDIBLY HUGE BOON for everyone else. It's very hard to overstate how fast east asia has transformed from poverty to relative wealth and how good this has been for hundreds of millions of people.
Go look at a picture of what Shanghai looked like in 1990 vs today: http://gizmodo.com/5558350/shanghai-skyline-before-and-after