“You have people who have a legitimate expectation to own a home, and be safe and secure for the rest of their lives. That is totally different to the experience many elements of the millennial generation have.”
In every country, there's a bargain between workers, capital, and the state. The bargain protects the interests of ordinary people by giving them security and a reasonable standard of living in their working lives, and in retirement. Ireland's bargain, according to Stephen Kinsella, is based on the broad ownership of land. But now, for most young people, ownership of land is out of reach. That's bad in the here and now - and even worse for the future. In this podcast, the economist talks about his recent four-part series on Ireland’s generation gap and explains how many millennials will be left without assets on which to rely in retirement.
