I agree that there are fewer opportunities than decades ago. One of the reasons is industrialization/computerization. Used to be it took a roomful of accountants at a major company to do with calculators what computers do today with fewer people in a couple of minutes. Same goes for building cars or any manufacturing operation. Even in medicine, computers do a lot of the lab tests that used to require more manual work. Look at farming. With mechanized equipment, modern fertilizers/herbicides, one guy like Allan in NE can produce a lot of food that may have taken dozens of farmers to produce in the past.
Our standard of living has been rising because we've all got more efficient. But, IMO, the "low hanging fruit" of increasing productivity (and our standard of living) is past.
And, as your reference points out, over time the citizenry expects to work less and enjoy more. For example, the idea that someone can work in an auto factory for 30 yrs, retire at 50 or so, get a pension, lifetime health care is ludicrous. That means that they'll have worked less than half of their life and expect to sit on their butts for the other half while SOMEONE has to pay for that. It's either us (when we buy a new overpriced car) or us when the government bails their employer out and guarantees their cushy retirement. Oh, they'll tell you how hard they've worked but I've been in plants and I can tell you that they don't work any harder than a farmer or construction worker or other occupation you name.
Twenty years ago, I thought I could retire at 62. Well, I've come to the realization that I'll be working long past that and lowering my standard of living to boot. That's just the way it is. I'm not going to count on a government handout or whine to someone how I DESERVE to live the life of Riley in my golden years.
As for the future generation, am I scared for them? Nah, maybe it'll be tougher on them, but they'll figure it out. Prolly (with a nod to Dave2) no tougher than our parents trying to raise families of six or more kids on one income with no modern conveniences like microwaves, dishwashers, etc.
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