Is college the reason the millennial generation is poorer than previous generations at the same age despite technological advancements?
- DaquanLv 54 years ago
In part, but also because during the youth of The Baby Boomers there were a lot more opportunities for the average American to ascend into the middle class with less effort. Manufacturing jobs were in abundance, The Affordable Housing Act made it possible for people to receive low interest loans to buy beautiful suburban homes which by todays standards would be considered a steal and The G.I. Bill made it possible for young men to receive free college education by serving in the military for a certain amount of years. Today however American manufacturing jobs have all but been outsourced to Asia and both The G.I. Bill and The Affordable Housing Act haven't been in effect for over half a century. The most frequented used doors to the middle class have been boarded shut for young Americans and it's effects are showing in the overall mental wellbeing and financial situation of the people.Source(s): History
- DeinoLv 74 years ago
Technological advancements actually make us poorer, since they increase the cost demands for living an average life, and the increase in productivity that they allow in business only means that you have to be smarter and faster and tougher to keep up eith a faster moving workplace.
College, though a seeming eternal expense for some, is still largely the only way many people can manage tonget the jobs they need at all and, to be fair, was just as much of an expense and monthly cash drain for decades for gen X