Friday, May 11, 2018

Arbeit macht GDP: At root America's basic economic problems lie at every level in not working enough

There is no age tranche working up to its potential, especially not teenagers, but also not the college-aged, not the core 25 to 54 years, and now not even the over 55 crowd. The latter in fact has only been held up more or less by those over 65 ramping up their participation in the wake of The Great Recession.

It all starts with the phenomenon of "failure to launch" in the teenage years. Baby Boomers didn't simply have fewer children and work less. They had fewer children who also lacked a vigorous work ethic. And that now appears institutionalized in the children of the children as well. This has now rippled through the system, as can be seen in the increasingly later dates for peak average annual participation in the age tranche charts below (1979, 1987, 1997, 2012, and 2016-2017?). GDP will not improve without a cultural reestimation of work. And a return to work will not occur without a need to return, which can only mean one thing:


16 to 19
20 to 24
25 to 54
55 and over
65 and over (subset)