"When 70% of Millennials say they are pro-socialist, we need to do better than simply dismiss them by saying that they are stupid or entitled or brainwashed; we should try and understand why,"
"Tl;dr too much student debt and lack of affordable housing keeps young people with negative capital for too long,"
"And without a stake in the capitalist system, they will turn against it."
"from the perspective of a broken generational compact, there seems to be a pretty straightforward answer to me, namely, that when one has too much student debt or if housing is too unaffordable, then one will have negative capital for a long time and/or find it very hard to start accu"
A theory links rising millennial support for socialism to excessive student debt and unaffordable housing. High debt and housing costs create prolonged negative capital for young adults, making wealth accumulation and homeownership difficult. Extended periods of negative capital reduce young people's ownership stake in the economic system and increase openness to alternative economic models. Political events that highlight progressive victories have renewed interest in this explanation. The idea frames generational economic insecurity as a driver of political realignment and raises questions about the role of asset access in shaping political preferences.
Read at Business Insider
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