The Memo by Howard Marks cover image

The Winds of Change

The Memo by Howard Marks

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What Caused the Pandemic?

The slower economic growth seen since roughly two thousand reduced the rate of job creation and advancement. This may have made concepts like career and long term employment less appealing to some young people. Many people can afford not to work, at least for a while, perhaps because they've made more money not working than they did working. People nearing retirement may be choosing to start it now, rather than seek a job for the interim. Some families may have opted to become one worker households, giving up on the fast track and potentially higher standards of living facilitated by two incomes.

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