Young Americans from high-school age on are faced with an economically bleak future because of the effects of the increasingly efficient worldwide distribution of jobs. The wisdom of their American elders has been that getting a better education would automatically elevate a person not only to a better paying job but to a near certainty of having a very good job.
Unfortunately, there may be a subtle quagmire in getting an education over the next decade and many of these people will fall into it if they spend too many of their potentially productive years in getting an education. As they consume their potential early money making years getting an education, the value of the education they acquire plummets. The reason is simple enough. If everyone who doesn’t have a job goes to school, then soon there is an overabundance of people seeking those jobs requiring higher education. Then, these educated people can’t get employment at the jobs they may have been trained for and are qualified for, but worse they can’t even get jobs at the lower education level because they have no on-the-job experience and so they remain unemployed.
An unemployed individual’s job prospects quickly worsen, because they now have a negative employment record and it becomes even more difficult to find a job. They are forced by their circumstance to live with their parents or on welfare, which makes them even worse employee candidates in the eyes of potential employers.
Their situation will worsen even more because soon there will be a whole class of people like themselves, competing for the same jobs, who become increasingly disenfranchised from the system and will become naturally desperate, discouraged and socially destructive. Then some of their group will become identified with the social destruction created by the articulate complaint of the over-educated unemployable and they will be labeled as social parasites who wasted their own time and the public’s money on worthless pursuits. The whole group will be given a bad name and the old saying Give a dog a bad name and hang him will become a reality for them. A term like broken-eggheads will spring up and become a swear word.
This is a tragedy in the making, but individuals can avoid the problem by getting into a right relationship with their job market and gaining total personal ownership of their essential items like a house. At the moment the housing market is depressed and the education market is in bubble mode. Working for six years and fully owning a small property, and then going to school, might work out better than going to school for six years and then being unemployed. Or perhaps working full time and taking a few classes might be best for some, but the critical thing is to own where you live as soon as possible and have a job.
Today’s youth are considered crass by the presently highly educated people because they have thoughts about the future expressed in this post, but ten years from now those who own their homes outright will be fixed in their homes, and those who are in debt will be fixed too, but like a fly in a biologist’s sample box.