I don't know if it's fair to lay the blame squarely on the feet of the baby boomers. They're not solely responsible for the decoupling of wages to productivity. They should share some of the blame for buying into the politics that destroyed the collective bargaining power that came with strong labor unions. But I don't know how how much they're to blame for globalization. Their generation was certainly in power when international trade agreements really started taking down barriers and labor protection, and when the financial system was deregulated setting the stage for the financial crisis. But in their defense trade agreements and banking regulation were obscure issues not put up to a public vote. They also can't be held responsible for the technological revolution that has made workers that much more replaceable and redundant. I think they stand out because they were economically established before all these systemic changes happened or really hit in force. The millennials on the other hand had the bad fortune to enter the workforce in strength just in time for the financial crisis to hit.
I don't think this blame game productive at all; it's merely a distraction that keeps us from looking at the issues and processes that lead to this situation.
Even so, once they figured out what was happening (I'd forgive nafta) they kept doubling down on the same policies when it was clear what was happening. Once nafta started shipping jobs to Mexico, why do the same with GATT? Why is TPP pretty much a done deal?
Baby boomers are also the parents, so even if they aren't directly responsible for career inadequacies of millennials through policy they certainly contributed to existential dilemmas and therefore all unpaid psychotherapy fees.
I don't know if it's fair to lay the blame squarely on the feet of the baby boomers. They're not solely responsible for the decoupling of wages to productivity. They should share some of the blame for buying into the politics that destroyed the collective bargaining power that came with strong labor unions. But I don't know how how much they're to blame for globalization. Their generation was certainly in power when international trade agreements really started taking down barriers and labor protection, and when the financial system was deregulated setting the stage for the financial crisis. But in their defense trade agreements and banking regulation were obscure issues not put up to a public vote. They also can't be held responsible for the technological revolution that has made workers that much more replaceable and redundant. I think they stand out because they were economically established before all these systemic changes happened or really hit in force. The millennials on the other hand had the bad fortune to enter the workforce in strength just in time for the financial crisis to hit.
I don't think this blame game productive at all; it's merely a distraction that keeps us from looking at the issues and processes that lead to this situation.
Even so, once they figured out what was happening (I'd forgive nafta) they kept doubling down on the same policies when it was clear what was happening. Once nafta started shipping jobs to Mexico, why do the same with GATT? Why is TPP pretty much a done deal?
Baby boomers are also the parents, so even if they aren't directly responsible for career inadequacies of millennials through policy they certainly contributed to existential dilemmas and therefore all unpaid psychotherapy fees.