THE LOST GENERATION

BUSINESS WEEK (2009) 10/19/

COY/ 33-35

A generation is graduating in which a new normal is emerging. Both high school and college grads should probably see

less in the coming years. Less money and prestige appear to be the headlines for this group. They may work day labor,

sub-minimum wage, apprenticeships and internships or a collection of part time jobs. It may mean that more than one family

is under one roof. In looking at Japan’s situation which is a decade ahead of us in down turns, nearly all the stats indicate a much higher unemployment rate than previous generations.

A family may mean female, boyfriend, baby, and dog living in the house with parents of one of the two youngsters. Japan found that after years of this, unless there is a major cultural change, there is increased anxiety and depression. This new generation never really catches up with the previous generations that were more prosperous to begin their adult lives.

Thus, fewer children are born and raised and fewer taxes are collected. It appears that we are no longer in a crisis, but this new normal may mean a different kind of adulthood for the Western world. That includes the United States.

WHERE DO BABIES COME FROM?

NEWSWEEK (2009) 10/19

ASIA 57.4% (OR NEARLY 6 OUT OF 10 BABIES.)

AFRICA 26%

AMERICAS (NORTH AND SOUTH) 11.5%

EUROPE 4.6%

OCEANIA .5%

All eyes should be on Asia. Some countries in Europe are paying couples to have kids. In the USA, one child costs roughly

$200,000. This figure does not include college or post high school training.

THERE’S NO PLACE LIKE HOME

KOTKIN/42-43

In more prosperous times, you went away from school, and then you moved around the country as new more prosperous jobs

opened up. You never really came back home. Thus, you found that rootless ness and anomie were conditions that you had to deal with. In Riesman’s THE LONELY CROWD, Packard’s A NATION OF STRANGERS, and even Putnam’s BOWLING

ALONE reflected mobility where nearly everyone was from everywhere else. However, there appears to be a “settled ness” or localism. We are moving less and it started in the late 70’s. At the peak 20% of folks moved a year. Now it is down to 14% and declining. As one life in extended homes and works in a series of jobs a career path that leads one to move often is diminished. Further, more people work at home. There should be a decentralization of government.

One may want to think in terms of spending a life in one city area. To many that is delightful, and to some others it is filled

with despair. However, the majority would really like not to move all the time and feel like strangers in a strange land.

There may be more decentralization of government.