Well, I apologize for how depressing my chosen article was but I feel like it was an important piece to share with my fellow near-graduates.
"How a New Jobless Era Will Transform America" by Don Peck from the Atlantic
is one of the best articles I've come across (thank you, Dr. Roberts) describing the actual issues and possible latent consequences of our actions right now as college graduates, whether we're moving back home, going to graduate school (fingers crossed!), or marching bravely into the job market.
I cannot tell you how frightening it is to know that my joining the job market while the economy is weak is tantamount to beginning my career $100,000 in debt compared to those who entered the job market during a healthy economy -- but what interested me most about this article was the cultural psychology it dipped into. From discussing the differences between how men and women are responding to joblessness, considering that men are culturally the breadwinners -- breadwinners which amount to 3/4 of our newly unemployed population -- to discussing the problematic cocktail of apathy and entitlement supposedly poisoning our generation's chances.
I'd like to focus, here, on this apathy/entitlement issue (as it more directly pertains to me as a member of this accused generation). I was very glad we got to spend so much time examining this problem because, despite the microcosm of aggressive workers at Southwestern University, it is apparent to me (from others I've known through high school and through media) that this problem does actually permeate our generation. The fact that many of our generation do not even know generally what the Federal Reserve is or does is an issue worth addressing. One would think that being born into an "era of joblessness" would make those of us entering the shit work harder to be more aware and knowledgeable about the economy and how it works. This is all partly why I decided to take at least an introductory course into micro and macroeconomics -- it just seemed too important and far too relevant to pass up. But the fact that this economic crisis hasn't shaken many of our peers out of the wealth mirage and into the reality that is lifetime barista-hood, troubles me.
I would like to reiterate, however, the point which Dr. Giuliano helped me come to that this mixture of apathy and entitlement to wealth really didn't begin with us and our generation, but with our parents. After all, what else but apathy for the future and entitlement to the wealth of now could've convinced people it was wise or even ethical to "purchase" houses on 90-100% borrowed money? When did we decide it was cool to switch from 30% of our income to beyond the entirety of our annual incomes? Isn't buying beyond our means (and knowing that a bubble is forming -- lookin' at you Alan Greenspan) a particularly keen example of American entitlement? If our model generation is spending and spending beyond its means because they believe they deserve to do so, why should our generation feel any less entitled?
It was simply nice to know that we aren't entirely to blame for our cultural make-up -- everything comes from somewhere, I suppose.
At any rate, if this cocktail, article, and economic shit has taught us anything, I hope it's the necessity of aggressive learning and pursuit of opportunities. Persistence is the key to success and apathy is apparently not only the lock from success but the mote filled with sharks as well. We must not be discouraged or demoralized -- we must fight for those jobs out there and we must begin to fight for each other. If we could just improve our schools and our health care (whoop, whoop, universal health care!), then America truly would be the land of opportunity.
Thanks for bearing with me through this mammoth of blues, this dark harbinger -- but things are looking up. According to the Wall Street Journal, businesses are gaining confidence which could mean an increase in investment spending which could lend businesses the boost needed to begin hiring more people. Plus, Ben Bernanke's $600 billion stimulus package will definitely help out, devaluing the dollar this way will increase our exports beautifully and should be another good promoter of business investment spending. Also, this is probably a good time to start investing in the EFA ETF -- foreign economies are probably going to pick up quicker than ours will.
Anyway, I'll keep praying for President Obama and Chairman Bernanke, and we'll see where we go.
ciao for now
P.S. Here's a link to the article again, if anyone needs/wants it.
http://people.southwestern.edu/~earlyd/su_only/principles/How%20a%20New%20Jobless%20Era%20Will%20Transform%20America.pdf
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