Part 3- Lifecycle for the Median Person in West is Damaged Beyond Repair
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In the previous post of this series, I wrote about how all of the negative socio-economic changes caused by neoliberalism in the public sphere (highly inflated cost of education and housing, decrease in job security, lack of well- funded pensions etc) in combination with a simultaneous negative changes in the personal sphere (large increases in single parenthood, persistently high divorce rates and a general increase in social atomization) undermine many of the basic assumptions which underlie the current system in western countries. To illustrate this point, the explicit and implicit assumptions which underlie the typical length of residential mortgages in western countries (25-30 years) were discussed. While the current system can weather a few negative trends and still remain functional, a combination of adverse trends which synergize with each other will corrode the system- first slowly and then quickly. Let us explore how some of the negative trends which have gained prominence in the past 20-30 years actively destabilize the system- starting with the effects of delay in entering the workforce.
Part 3- Lifecycle for the Median Person in West is Damaged Beyond Repair
Part 3- Lifecycle for the Median Person in…
Part 3- Lifecycle for the Median Person in West is Damaged Beyond Repair
In the previous post of this series, I wrote about how all of the negative socio-economic changes caused by neoliberalism in the public sphere (highly inflated cost of education and housing, decrease in job security, lack of well- funded pensions etc) in combination with a simultaneous negative changes in the personal sphere (large increases in single parenthood, persistently high divorce rates and a general increase in social atomization) undermine many of the basic assumptions which underlie the current system in western countries. To illustrate this point, the explicit and implicit assumptions which underlie the typical length of residential mortgages in western countries (25-30 years) were discussed. While the current system can weather a few negative trends and still remain functional, a combination of adverse trends which synergize with each other will corrode the system- first slowly and then quickly. Let us explore how some of the negative trends which have gained prominence in the past 20-30 years actively destabilize the system- starting with the effects of delay in entering the workforce.