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Here's why Americans under 40 are so disillusioned by capitalism
(www.washingtonpost.com)
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this post was submitted on 07 Apr 2024
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politics
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This is the best summary I could come up with:
Many rushed to tell me how generous their pay raises have been, how easy it is to go from an entry-level job to management at their company, and how they have diversified their workforce.
Millennials have had such a tumultuous start in the workforce, they have been nicknamed the “unluckiest generation.” They are struggling to navigate the most unaffordable housing market since the early 1980s.
While Fink correctly identified a key problem, his proposed solution wasn’t to bring back pension plans.
It’s a shame that Fink didn’t use his bullhorn to call on business and political leaders to shore up Social Security.
What executives don’t like to talk about is that while pay has increased a lot in the rebound from the pandemic, corporate profits have soared even more.
The share of the economic pie that goes to worker pay remains well below historic norms, as even Goldman Sachs has pointed out.
The original article contains 775 words, the summary contains 152 words. Saved 80%. I'm a bot and I'm open source!