Consequences of Youth Underemployment: 1
Is there one common problem that affects countries as diverse as USA, China, India, Japan, Algeria, Tunisia, Italy, Spain, ALL European Countries, Almost All South American Countries?
So why use the word ‘underemployment’ instead of ‘unemployment’, when a significant minority of the group is not employed?
A young person without kids, who lives with or near family relatives has far more in common with an underemployed person than an unemployed person. Unemployment for people with families and kids is a very different experience, especially if they used to have a good living standard. For people who never had a decent or satisfying long-term job, not having a good job is “business as usual”. As long as they have a half-decent place to live, enough food to eat and some money to spend on themselves- things are OK, if not great.
The real problems in this scenario arise due to their social detachment and intense cynicism.
The last 40 years have thrown a few more kinks in the old scheme of things.
1. Effective contraception translates into far few kids, even without feminism. Who wants rugrats in a society so devoid of hope and purpose.
2. Feminism emasculates most men. Even those who are not emasculated become too cynical to want kids or LTRs.
3. Internet, social media and computer games are far more satisfying. I have made this point previously here and here. FB has recently made a similar assertion. It certainly helps that technology is becoming cheaper by the day.
4. “Trusted” institutions have failed, “experts” have been revealed as charlatans and people have lost faith in society delivering on implicit and explicit promises.
To make a long story short, a significant percentage of the young population has lost all hope in a brighter future. In a previous age, when almost every woman had over 4 kids- this would not be an issue. Nor would it be an issue if technology and productivity were still making unprecedented gains.
However, the future looks very different. To put it bluntly- we simply cannot extrapolate the future based on any previous data. Will say more in upcoming posts.