This generation of young, educated people is unique – at least in the post-1945 period: a cohort who can expect to grow up poorer than their parents.
This is simply nonsense. The twat appears ignorant of the effects of economic growth.
Have a look at what the estimates for trend growth are. 2 to 2.25% I think is the current sort of range. This means that in 36 years, ie, roughly the working lifetime of current graduates, that the GDP of the country will double.
Yes, this is real growth, after inflation. And the labour share of income isn\’t going to fall much over that time, not from it\’s current recently depressed levels I doubt. That means that the real incomes of the people in the country will double over said working lifetime.
Having a doubled real income is not the same as being \”poorer\”.
You can lower that trend growth rate if you like, to 1%: that just means the increase in real incomes will be 50% instead of 100%.
Claiming that this generation is going to be poorer than the previous one requires one of two things. Either an assumption that there is going to be no economic growth or it\’s a result of simple and pure ignorant twattery.
Neither of which are great qualifications to be an economics editor at the BBC, are they?