The Rise and Fall of the Meritocracy

The odds of a young person having a higher income than their parents used to be pretty high in the 60s and 70s. Now it's maybe 50-50 proposition, whether a young person when they reach 40 is going to be better or worse off than their parents were at the same age. We're now in a world where those who control the doors to education don't see a problem in those doors being very expensive and difficult to open.