In the first two parts of this series, which you can read here and here, four major themes emerged. The generation currently entering their forties have far fewer assets like houses and pensions than their parents or grandparents had at comparable ages. Given their higher educational levels, they earn less than previous generations did at the same age and pay far more for assets like housing. They keep far fewer of the gains from productivity increases, meaning the owners of capital absorb those gains. It is still not clear to us why this divergence between wage growth and productivity growth has taken…
Sign up today: Full annual membership for just €200. Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators. Members of The Currency get full access to over 3,200 exclusive interviews, investigations, and analysis, plus over 220 podcasts. Annual membership is just €200 for the first year, a saving of €100. Or try The Currency for the first month for a special introductory rate of €5, a saving of €20. Cancel at any time. To become a member today click here.
Join The Currency
INTRODUCTORY OFFER.