"The essential theme of Green’s piece is that “participation costs” - the price of admission you pay to simply be in the market, let alone win, have grown out of control. Food and shelter are participation costs for living. Having a $200/mo smartphone is now a participation cost for many things such as getting access to your banking information remotely, medical records, and work/school."

No shit. He mentions food, shelter and a smartphone — might as well add higher education and a functioning car if you're in the U.S.

I struggled being tossed out on my own at 18 with no support from parents. Working at a pizza restaurant, riding a bicycle to a community college for an education, renting a room from a woman (she may well have been renting as well—renting a room to me to take the edge off).

Winter came and riding the 10-speed to college (in Kansas) became a challenge…

Thank god no smartphone or internet plan was required then.

(When I eventually split an apartment with two other roommates we lost power for stretches from time to time because we were unable to come up with the money to pay the electric bill — oh well.)

They were hard times (that I somehow enjoyed—perhaps because I was young and was finally beginning to have a fulfilling social life). These days it has to be even harder.