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The School of Greatness cover image

Professor G: This is Why Millennials Are the Most Anxious & Unhappy Generation

The School of Greatness

NOTE

Intergenerational Wealth Transfer

Social policies often involve transferring wealth from the young to the old, with young people making significantly less than previous generations. Despite the economic growth, minimum wage has remained low, leading to a transfer of wealth to the older generation through social security. The COVID-19 bailout mainly benefited the wealthy, with 85% of the funds saved and invested, leading to asset price increases owned largely by the top 10%. This creates a barrier for young individuals trying to start businesses or afford assets, ultimately widening the wealth gap between generations.

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