alt Hacker NewsIs that why I, and a lot of other people my age, have a lower standard of living than my parents did at the same point in their lives?
The "free movement of capital" only ever seems to move the capital one direction: up to the people who needed the labor of others to reach such wealth.
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The reason young people often have a lower standard of living is because:
- there is a shortage of housing
- predatory loans for higher education
- chronic health crisis due to terrible government health policy and guidelines
- globalization has led to an international labor market
The last point may be bad for many Americans but an unequivocal good for the world. Global poverty has seen an incredible drop in the past 70 years. https://en.wikipedia.org/wiki/Extreme_poverty#/media/File:Wo...
The large majority of people do not have a lower standard of living than their parents at the same age. My dad’s family could not even afford shoes for him and he lived in Europe.
I am sorry that you feel you are downwardly mobile, but you should not assume your experience generalizes.