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Niall Ferguson: How Civilizations Collapse
TRIGGERnometry
The Economic Interests of Young People
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Young people should be attracted to radical proposals to reform housing and the welfare state due to the imbalance in intergenerational liabilities. The liabilities of welfare states are skewed in favor of the elderly, and the current welfare system transfers from the young to the elderly. However, many young people support political parties that are committed to preserving the welfare state, which contradicts their economic interests. This may be due to a lack of understanding of their economic interests, nihilism, or being influenced by ideological positions from their education, leading to false consciousness. As a result, they may not pursue their own interests as a generation rationally.
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