Comments on: Generation Debt: Expensive Schooling And Cheap Labor http://www.thesimpledollar.com/2007/02/06/generation-debt-expensive-schooling-and-cheap-labor/ Simple, applicable personal finance advice for the modern world Fri, 10 Feb 2012 08:34:37 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Trent http://www.thesimpledollar.com/2007/02/06/generation-debt-expensive-schooling-and-cheap-labor/comment-page-1/#comment-6012 Trent Sun, 11 Feb 2007 19:36:20 +0000 http://www.thesimpledollar.com/2007/02/06/generation-debt-expensive-schooling-and-cheap-labor/#comment-6012 Tim: it's pretty close to true. My father landed a $11 an hour factory job in the mid-1960s without having even graduated high school. It was nothing special, just an ordinary floor job. Tim: it’s pretty close to true. My father landed a $11 an hour factory job in the mid-1960s without having even graduated high school. It was nothing special, just an ordinary floor job.

]]> By: Tim http://www.thesimpledollar.com/2007/02/06/generation-debt-expensive-schooling-and-cheap-labor/comment-page-1/#comment-5990 Tim Sun, 11 Feb 2007 14:32:01 +0000 http://www.thesimpledollar.com/2007/02/06/generation-debt-expensive-schooling-and-cheap-labor/#comment-5990 "In 1970, a high school graduate didn’t have to go to college to earn a strong-paying job. There were manufacturing jobs available to people with work ethic, jobs on the floors of factories that paid $15-$20 an hour in wages in 1970 dollars." This is nonsense. Prices have risen by about a factor of five since 1970, so someone making $15-20/hour in 1970 is equivalent to making $75-100/hour today. People argue about whether real wages have fallen or risen in the last 30 years, but no one thinks they've fallen that much. “In 1970, a high school graduate didn’t have to go to college to earn a strong-paying job. There were manufacturing jobs available to people with work ethic, jobs on the floors of factories that paid $15-$20 an hour in wages in 1970 dollars.”

This is nonsense. Prices have risen by about a factor of five since 1970, so someone making $15-20/hour in 1970 is equivalent to making $75-100/hour today. People argue about whether real wages have fallen or risen in the last 30 years, but no one thinks they’ve fallen that much.

]]> By: lorax http://www.thesimpledollar.com/2007/02/06/generation-debt-expensive-schooling-and-cheap-labor/comment-page-1/#comment-5459 lorax Wed, 07 Feb 2007 00:07:59 +0000 http://www.thesimpledollar.com/2007/02/06/generation-debt-expensive-schooling-and-cheap-labor/#comment-5459 It looks like the clash of generations is finally here. But it isn't the gen-xers vs the boomers, but the gen-yers vs the boomers! Anya was on bobbrinker.com (actually on the radio show) a few weekends ago and she got blasted, to some extent by the host, but mostly by the relatively rich boomers who don't want to be taxed to support the younger generation. I imagine we'll see more of this as the boomers retire. It looks like the clash of generations is finally here. But it isn’t the gen-xers vs the boomers, but the gen-yers vs the boomers!

Anya was on bobbrinker.com (actually on the radio show) a few weekends ago and she got blasted, to some extent by the host, but mostly by the relatively rich boomers who don’t want to be taxed to support the younger generation.

I imagine we’ll see more of this as the boomers retire.

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