How Neoliberal Financialism Pushed up the Cost of Housing in Western Countries
pharmaheretic.substack.com
In previous part of this series, I made the point that over past 30 years, the living standards of almost everybody in western countries (but especially in USA) have diminished considerably. This has largely occurred due to the convergence of two factors. Firstly, the cost of the basics such as houses, automobiles, higher education and in case of USA- healthcare, have increased much faster than "official" rate of inflation. To make things worse, wages have either remained stagnant or decreased and in an increasing number of cases- the jobs have been shipped overseas without being replaced by anything comparable. Even the few well-paying jobs left in this country have become much less stable than they used to be just two decades ago. Furthermore, these changes have impacted those under 40 or 50 much harder than those above that age. So it is not just a "Millennials", "Gen Y" or "Gen Z" thing.
How Neoliberal Financialism Pushed up the Cost of Housing in Western Countries
How Neoliberal Financialism Pushed up the…
How Neoliberal Financialism Pushed up the Cost of Housing in Western Countries
In previous part of this series, I made the point that over past 30 years, the living standards of almost everybody in western countries (but especially in USA) have diminished considerably. This has largely occurred due to the convergence of two factors. Firstly, the cost of the basics such as houses, automobiles, higher education and in case of USA- healthcare, have increased much faster than "official" rate of inflation. To make things worse, wages have either remained stagnant or decreased and in an increasing number of cases- the jobs have been shipped overseas without being replaced by anything comparable. Even the few well-paying jobs left in this country have become much less stable than they used to be just two decades ago. Furthermore, these changes have impacted those under 40 or 50 much harder than those above that age. So it is not just a "Millennials", "Gen Y" or "Gen Z" thing.