A new NBER Working Paper, Countries For Old Men: An Analysis Of The Age Pay Gap by Nicola Bianchi and Matteo Paradisi, reveals, reveals that the pay gap between older and younger workers has been widening for decades across high-income countries, with wages of older workers growing much faster than those of their younger counterparts. The paper uses administrative and survey data to investigate this growing wage disparity.
I’m not ready to crush their spirit yet with the cold truth, as they’re both under 10. However, I’m certainly not going to go the “well just pull yourselves up by your bootstraps” approach that my Boomer parents generation took towards younger generations.
I’m also not going to do this reply any justice typing on my phone, but the destruction you speak of (and I don’t disagree that it’s happening) has been occurring for decades, it’s not a recent development, although it has definitely sped up during my lifetime.
I don’t disagree with your thought that there’s a ravine. It’s going to be my generation and younger ones that have to pull us out of it (in the sense of taking responsibility and shepherding our children forward), which is not going to be easy.
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