Peter McCormack
· 1w
Bitcoin peeps - job for you!
I met two economics students at my conference, they told me how they are mainly being taught Keynesian horse shit.
They've launched a YouTube channel to teach real econo...
I am more and more convinced that the core of the problem is the demographic imbalance. The boomer generation (my parents) has created systems that transfer wealth from the younger generation to them to maintain their lifestyle. I don’t even think that’s bad or a problem in and of itself, as ultimately there is no other way. Young people need to pay for the old, and this was once called the intergenerational contract.
It became exploitative to the young as our cohort is not large enough compared to the baby boomers. On top of that, life expectancies have increased while retirement ages haven’t changed much. And the only thing that could make the equation work—massively higher productivity—is fought against, especially in Europe. One way or another, this will end with the younger generation no longer honoring the implicit agreement with their parents. I think it would be wholesome to have an open public debate about the topic. I just don’t think we are anywhere near that point yet…
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