
Millennials earn 20% less than baby boomers did–despite being better educated - hkmaxpro
https://www.cnbc.com/2019/11/05/millennials-earn-20-percent-less-than-boomersdespite-being-better-educated.html
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gmiller123456
Seems to be deliberately cherry picking data for the purpose of contraversey.

>median earnings for those 18 to 34 are lower

This is to be expected since people are spending more of that time in school
rather than working full time. Better would be to compare them after they've
completed school... Which they do, but...

>The average millennial’s wealth in 2016 (ages 23 to 38) was 41% less than
those who were at a similar age in 1989

Now they've deliberately switched from "earnings" to "wealth". And that's to
be expected if someone has spent the last 4-6 years in school rather than
working.

The article is going out of their way to avoid an apples-to-apples comparison.

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mikece
Having more degrees per capita or higher levels of degrees doesn’t necessarily
mean “better educated.”

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supercanuck
Yes it does. That is exactly the definition of Education.

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m0zg
More != better. If it was, Princeton/Yale/Stanford/MIT/etc would not exist.

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supercanuck
More information is not better than less?

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m0zg
Quite obviously. Google search would not exist if that wasn't the case.

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zepto
Education is only one factor. An economic boom based on the exploitation of
wartime technology for consumer benefit fueled the boomers wealth growth.

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myu701
Can you give a little more detail about what wartime technology fueled boomer
wealth and the economy in general?

My limited understanding from HS was that the boom in the 1950s/60s was due to
other nations rebuilding from WWII and needing goods and/or the Cold War
causing lots of investment in rockets etc. so I'd love to hear more details
than my previous knowledge.

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zepto
The internet was initially funded as a wartime technology, amongst other
things.

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kian
Despite having more years of schooling would be more accurate. The watering
down of the curriculum over the last half century likely makes it very
difficult to get a 'better education' today unless you intentionally work to
make it for yourself. However, it is also much easier to do that today, if one
is so motivated - what's needed here is a better proxy for quality of
education than years of schooling or degrees obtained.

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supercanuck
What do you even mean when you say quality? The access to information,
experts, knowledge today is absolutely unprecedented and curriculum's are much
more science based and people are exposed to so many different ideas.

I would argue education has never been better.

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kian
Sorry, I should have clarified - On the one hand, we have an unprecedented
level of maturity and quality in the materials of instruction available to be
curated. This is what I meant by saying that a motivated learner combined with
a good curator/teacher has greater opportunities than ever. However, the
standards of testing, the methods of evaluation, and the requirements of
learning for a given grade level have all been slowly backsliding for nearly a
century on average. So while we have some of the best access to materials
ever, we have lower expectations of what their abilities should be, and cruder
methods of evaluating them being applied more broadly (algorithmic essay
grading, anyone?).

Or perhaps I'm seeing this wrong, and comparing high standards of education
for a different era and cohort group against a much broader cohort group that,
if I were comparing them against an earlier era, are in fact much better off
than they used to be?

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vwuon
When everybody has a degree the value of a degree plummets. It's... logic?

