Tap to unmute

Why it's harder to earn more than your parents

Share
Embed
  • Published on Nov 28, 2022

Comments • 3 128

  • Christian Schmeisser
    Christian Schmeisser 6 months ago +1614

    As a graduate student in robotics and AI coming from a low income, single-parent household, this really hits home! The issue isn't that young people aren't willing to climb the ladder, it's that the ladder has become longer and longer.

    • Angel flora
      Angel flora Month ago

      So true

    • Hey Tony
      Hey Tony Month ago

      It’s more of a game of climbing a snake than a ladder-slippery and no guarantee you’ll even get a better paid job. The game of capitalism is becoming increasingly less fun. Especially as many people cannot even get any capital anymore due to the impossible to reach deposits and high rents.

    • Emmi Doherty
      Emmi Doherty Month ago

      @Owen Edgson The world can produce only so much

    • The Savage Wombat
      The Savage Wombat Month ago

      The less intelligent are becoming more prolific. If you're a grad student in a STEM field, you'll do fine. Quit whining.

    • Thomas ABABA
      Thomas ABABA 2 months ago

      @Salmonella its not overpopulation thats making it hard its the fact 200 company own 85% of our wealth through energy,tech ,finace and politics. all own by people over 45 years old. they took so much getting higher as them become harder as they increase the amount of tax when keeping wage the same as 2014.

  • Piob Mhor
    Piob Mhor Year ago +1826

    My dad was a high school dropout and got a factory job with a starting wage of $2.85/hr(1961), which is about $5,700/yr. indexing this for inflation, that is approximately $52,000/yr in today’s dollars. When you take into consideration a significantly lower income tax rate and little to no sales taxes, the net or discretionary income is relatively greater than today. Our first home was $5,000 (less than one year’s wage) and was paid off in 15 years. My dad while working at the same plant bought a cottage for $28,000 after the house was mortgage free. Could you imagine what our world would look like if someone right out of high school and with no student debt could make $52K? That would just give us income parity. If your average house cost $52K as well, that would give us wealth parity. These are just my observations and not a documentary…I don’t think I’m the only one who noticed this.

    • Bart Doo
      Bart Doo 13 hours ago

      Houses are bigger today than in previous generations.

    • Tatyana
      Tatyana 9 days ago

      Your dad dropped out of high school and made more than I did after 3 years of post secondary education.

    • Deborah Coveney
      Deborah Coveney 15 days ago

      Cost of living now impossible for lower wage earners to get on the property ladder its called wealth inequality

    • 1XxXgeriXxX1
      1XxXgeriXxX1 3 months ago +2

      Purchasing power is falling sadly

    • BlueWarpath
      BlueWarpath 4 months ago +2

      And, it's not just the inflation, things cost way more than they should on top of that. In New York, a Manhattan apartment that cost 30,000 dollars should cost roughly 250,000 now with inflation but in reality it will cost millions of dollars, easily 2-4 million! Prices are going crazy, first in the cities and then it spreads like dominoes.

  • CannonballZ1975
    CannonballZ1975 Year ago +2815

    The only problem with this video is no mention of Student Debt, and how that may still make it difficult for middle and lower class people to achieve upward mobility, even with a college eduction.

    • Melissa Beswick
      Melissa Beswick Month ago

      There isn’t really student debt in Great Britain

    • The Savage Wombat
      The Savage Wombat Month ago

      @kauigirl808 Debt is highly relevant to making income. Those with debt cannot afford to take chances. They must take a secure position over a riskier one that could be much more lucrative.

    • Ssukhdeep Kaur
      Ssukhdeep Kaur 3 months ago

      @Ivan Soto I come from India and saving is common among poor people. Parents spent years saving to pay for college education for kids .

    • Ssukhdeep Kaur
      Ssukhdeep Kaur 3 months ago

      @Ivan Soto 1. Then why did you listen to those dumbos ?
      2. Then why did you go?

    • Paul Hunter
      Paul Hunter 4 months ago

      That's why I never went for Student loans. I always tried get PELL Grants or apply for academic scholarships in my field of studies.

  • EverythingRebekahLorraine

    As someone who did move up the income ladder and overcome abuse and neglect, I can say it is incredibly hard. Especially when you think about a child being surrounded by these experiences. And even "overcoming" doesn't erase the damage that was caused that will forever be with me and still affects my choices despite years of therapy.

    • Jess X
      Jess X Month ago

      Yuuuuuuuuuup

    • Cassy R
      Cassy R 2 months ago

      I second that!
      Making more than Mom has not done me the wonders, as promised. Here I am in my tiny 1BR condo, over $200k student debt, & nightmares of the future challenges ahead. I made it up and out, but I am tired.

    • Егор Иванов
      Егор Иванов 3 months ago

      @V L Actually, people are products of their environment. According to neuroendocrinology researcher Robert Sapolsky, there is no will.

    • diws86
      diws86 3 months ago

      Right said 👍

    • Loturzel Restaurant
      Loturzel Restaurant 4 months ago

      @V L Perfect Supplement to this video here would
      be the Worker-Struggle Coverage
      of RU-cliprs 'Some More News' and 'Second Thought'.

  • Jeffrey Hulkman
    Jeffrey Hulkman Month ago +606

    Now with the recent economy, To get financial FREEDOM you have to be Making Money while you're asleep

    • Classicphotos
      Classicphotos Month ago +5

      @Jeffrey Hulkman CORINNE really seem to know her stuff. I looked her up on the web using her full name and found her page , read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I'll booked a session with her

    • Trade Kings
      Trade Kings Month ago +3

      @Jeffrey Hulkman Word of the day : fiduciary. do not talk to anyone who is not a fiduciary to you , who explains everything.

    • Jeffrey Hulkman
      Jeffrey Hulkman Month ago +6

      @Marco Polo I began with a fiduciary portfolio-advisor by name "CORINNE CECILIA HEANEY . She’s verifiable and works ethics is in accordance with US investment act of 1940. Her approach is transparent allowing total ownership and control over my portfolio with fees very reasonable in comparison with my invstment-income . Also, She covers things like investment insurance, making sure retirement is well funded, Go over tax advantages , ways to have a volatility buffer for investment risk. many things like that.

    • Marco Polo
      Marco Polo Month ago +3

      @Jeffrey Hulkman I've known I had wanted to start investing for a few months but just haven't been brave enough to start due to the market so far this year. I have $60k i want to transfer into an S&S ISA but its hard to bite the bullet and do it. $457 is a huge milestone, Please whats your strategy? i will love to have an insight

    • Jeffrey Hulkman
      Jeffrey Hulkman Month ago +2

      If you’ve got patience I believe it’s a great time to invest… I’m no expert but as Warren buffet said he’s seen this happen a number of times through out his life

  • African Queen Mo
    African Queen Mo  Year ago +850

    Unfortunately going to university has not catapulted young people into wealth and social mobility because jobs that are well paying are hard to come by.

    • H Spurr
      H Spurr 6 days ago

      I qualified in STEM, further qualifications in research, even further in teaching STEM - there just aren't the jobs, and those that are are incredibly competitive and very "who you know". I'm having to re-train in law because anything from field work, lab work, PhDs and post grad etc just aren't available. Know too many people having to make their way in cafes and supermarket roles after a PhD. I really don't think the whole idea of STEM being secure and humanities being useless is true - it's just deflecting from the overall "not enough jobs" problem.

    • The Savage Wombat
      The Savage Wombat Month ago

      Jobs in STEM are in huge demand. The problem is young people want to study things they enjoy. This makes them unmarketable.

    • csensale
      csensale 4 months ago

      This reminds me of a woman that’s stuck as a clerk in a supermarket. She got a phlebotomist cert and because she didn’t have experience she never got to use it

    • Ananaskopf
      Ananaskopf 4 months ago

      And because of you have to go to depth when you want to go to university in the US. That makes it much harder to get up in society if you already have depth when you just started earning money.

    • pamela lima
      pamela lima 4 months ago

      @thsone this is happening since many many years ago in “third world countries “ the government is rich the people can’t afford to live

  • ariyanto lim
    ariyanto lim Year ago +402

    As someone wo is climbing up the ladder I can say that it is incredibly difficult journey. We need to run extra miles, work extra hours, and keep the heads up against discriminations, bullies, neglects, and many other things. Btw my case is in Indonesia. But we may share similar case

    • bruh
      bruh 10 days ago

      @Sew_Gal lol you should learn his biography better if you like him that much. his father is extremely rich bc he owns emerald mines in South Africa. without money of his father, elon is nothing.

    • Harold Lieberman
      Harold Lieberman 3 months ago

      @Sew_Gal I am too lazy to be like Elon Musk.

    • Sew_Gal
      Sew_Gal 4 months ago

      @Ananaskopf Then why are there so many successful immigrant minorities who came to this country with no capital and cant even speak english...yet thrive in the upper middle class. In garden grove alone there are neighborhoods full of rich asians and mexicans.

    • Ananaskopf
      Ananaskopf 4 months ago +6

      @Sew_Gal Thats the biggest lie, he had a lot of luck and of course put a lot of effort in, but its not about those few people who were lucky and got rich, its about those who work normal jobs and dont even have those chances or neither earn anough money to even start a company. nowadays you can only get richt by already having a lot of money.

    • Ananaskopf
      Ananaskopf 4 months ago +2

      the coporations just want more work from you for less money

  • Cat C 🧋
    Cat C 🧋 7 months ago +249

    As a Millennial, I wish people would consider the demographic factors that are holding this generation down, as described in this video, instead of defaulting to calling us “lazy” and “entitled” for not being able to buy a house at the same age our parents did. That’s fundamental attribution error at work (blaming the person, not the circumstances).

    • Lars Jonasson
      Lars Jonasson Month ago +1

      @karl07777 That is true for developing countries where the older generations still can remember extreme poverty. But not for the Western world wich has prospered since WW2.

    • The Savage Wombat
      The Savage Wombat Month ago

      @黒い川 Media reflects what the people want to hear. Megacorporations reflect what the people want to buy. These are the foundations of capitalism.

    • karl07777
      karl07777 2 months ago

      You see that is the fact. But there's another fact. In those generations, kids died more growing up. On average people starved more. Human rights, justice often shadowed by competition. Lifespan shorter at around 50. As of current, we see only the survivors who've lived through this and yes they have enjoyed higher growth (ie house ownership). But the cost was not light when you take out the survivorship bias to account for the circumstances and not the person.

    • 黒い川
      黒い川 4 months ago

      @Icedirt So the Ukraine bot opinion, which is mainstream and supported by all media outlets and megacorporations is valid?

    • Icedirt
      Icedirt 4 months ago +8

      @黒い川 russian bot=opinion invalid

  • Jimmy Liu
    Jimmy Liu Year ago +4490

    For many who grew up in poor neighbourhoods, their dream is to leave then never come back. Kudos to those who decide to come back, and make a difference.

    • John Guy222222
      John Guy222222 4 months ago

      @Anoetic OddZero àq

    • J Y
      J Y 4 months ago

      They are still the first class world people. If they go to the third world to feel it.

    • 崔海鹏
      崔海鹏 5 months ago

      😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊

    • 崔海鹏
      崔海鹏 5 months ago

      @Kage 777

    • Koslo
      Koslo 6 months ago +2

      Robotics is a hard field to get into. There arent as many companies, bc the hardware is so expensive, compared to Android Development e.g. I also wanted to work in robotics, I modelled my curriculum in order to specialise in machine learning, computer vision, control theory, signal processing and pure maths (bc its needed everywhere). I have two Bsc degrees and one MSc. Unfortunately Robotics is a tough field, bc you need to have very broad but also deep knowledge and it is also very popular and therefore competitive - but in spite of that the salaries are really mediocre for the knowledge you have to bring in. Especially if you want to do research. In the end I switched fields to AI Cloud Engineering. Its just way easier, in higher demand, barely no one learns typescript and it pays so much more, bc most companies are using the cloud nowadays.
      In the end I decided to follow the money. I grew up poor and in this economy I have to accumulate as much money as possible, otherwise I will never be able to purchase my own house or flat.
      Anyway, my point is that hard work or difficult fields don't necessarily translate to proper payment. Tbh after dabbling in Research and academia for a while, it dawned on me that you actually already have to be well of in order to enjoy that lifestyle with tons of work, but bad payment. I wonder if this gate keeping is on purpose.

  • Valorie Broderick
    Valorie Broderick Year ago +423

    I have a bachelor's degree. Eight years later I'm a "team member" at Arby's. I'm 35 and live with my parents. A degree did nothing but give money to the university and put me in debt. So let's not perpetuate the myth that college leads to success.

    • Barrios Groupie
      Barrios Groupie 5 days ago

      What did you do the degree in?
      A degree is no guarantee of a job, requiring additional qualities such as a passion and commitment to the career we're involved in. Hence even dentists have to learn how to run a self-employed business with one another rather than coasting along like a shelf-stacker.

    • Valorie Broderick
      Valorie Broderick 10 days ago

      @Bad Jinn Hey, not a bad idea!!! :D

    • Bad Jinn
      Bad Jinn 11 days ago

      @Valorie Broderick Your degree is not terrible, just do your masters and come work in the Middle East (in gulf countries like Qatar Saudi uae bahrain) and since you have a western passport you can get into a teaching job in a british or American school quit easily and be payed more than most people in your country, know this since I attend a britsh school here and teachers don't leave for this exact reason

    • Valorie Broderick
      Valorie Broderick Month ago

      @Frank Garza You too! I know what it's like. Happy Halloween! :)

    • Frank Garza
      Frank Garza Month ago

      @Valorie Broderick thanks a lot for your response. Yeah I might give it a try, trying to look for better jobs etc. Wish u the best and thanks again. Happy Halloween btw and enjoy yourself. (:

  • AleksTheAleks
    AleksTheAleks Year ago +132

    Although I do agree with most of what has been said in this video, and especially the importance of education, I do think that a crucial point has been missed. There has been no mention of the tuition prices in both US and UK universities, and how aggressively they have been growing. Even though a lot of universities provide loans, it usually slumps the graduates in life long debts. Countries where social mobility is higher, have all mostly free higher education, as well as health care and other social services. This has also been proven to boost social mobility and should have been highlighted in a video such as this one.

  • Chessmapling
    Chessmapling Year ago +244

    I think they are spot on with the obsession with credentials in the US. With the internet, you can learn an entire undergraduate degree and even graduate-level courses on your own. Yet no company will hire you if they see you didn't go to university, even if you've taught yourself to an even higher level than new grads. Even professional certifications, like the Chartered Financial Analyst (CFA) exam, require you to have a bachelor's degree.

    • The Savage Wombat
      The Savage Wombat Month ago

      Free online self study degrees are needed. Students should only have to pay for exam proctors.

    • Ryan Trudell
      Ryan Trudell Month ago

      Employers don't know how to do skills-based interviews. If they did, they wouldn't care about your diploma. They'd just set you up with a test/exam or assessment of your skills, and offer you the position if they felt you were qualified or not. Because they don't know how to do that, they rely on "did they go to university??" and "did someone else hire them before us? Oh they did!?"

    • Ariel Lubonja
      Ariel Lubonja 2 months ago +1

      @Daniel Hubbard that’s not true at all. Firms want to maximize the supply of workers so they can pay them less

    • Daniel Arledge
      Daniel Arledge 4 months ago +1

      I disagree, let me know if you want me to send you a dozen remote tech jobs that could care less of whether you have a degree or not, just make sure you have put in the work to showcase

    • Markus Heimerl
      Markus Heimerl 6 months ago +5

      Thats 100% elitism. As an expert you should be able to identify if someone is knowledgable enough to equal an undergrad educated person within an hour of talking about technical subjects.

  • Chetan Sharma
    Chetan Sharma Year ago +122

    It is very encouraging that people are working for social mobility. Making efforts with empathy so that children from lower economical background can have a better life in future than their parents. ❤️

    • Sew_Gal
      Sew_Gal 6 months ago

      Everything is rigged and the democrats and the republicans are all in it to make it difficult for everyone. The dems act woke but the moment it means sacrificing their money or raising taxes, they wont go fir it at all

    • Pikkabuu
      Pikkabuu 10 months ago +2

      Sadly it is the private individuals working instead of the state working to fix it....

  • Wit Wisniewski
    Wit Wisniewski 5 months ago +30

    The biggest boost parents can give their children for future success is to teach them to think long before they start school. Mastery of logic and critical thinking will help them in school from grade 1 onward to their careers. The problem is that in impoverished communities, parents don't care as much to prepare their kids closing the poverty vicious circle.

    • yysun12
      yysun12 4 months ago

      highly agree. Often it's the skill of decision making and planning that kids learn from their parents that lead them to future success.

  • Strongfp
    Strongfp Year ago +135

    A restaurant I worked at was bought up by a Jamaican couple, the husband was a former civil engineer, and he would insist on fixing everything himself, a real DIY guy, and I would help him take one some pretty crazy projects, they all turned out perfectly fine. But, I remember him saying to me once "where I am from, we had to make do with what we had, and my father always involved me..." even his family who was rather 'well off' down there was very hands on and thrifty, but it clearly had an impact on his life that hands on learning with visual stimulation is a vital thing for children.

    • Loturzel Restaurant
      Loturzel Restaurant 4 months ago

      @Ivan Soto Perfect Supplement to this video here would
      be the Worker-Struggle Coverage
      of RU-cliprs 'Some More News' and 'Second Thought'.

    • Ivan Soto
      Ivan Soto 7 months ago +9

      It is and I'm sad that I grew up completely devoid of it. In front of a screen as a kid, no tools, no garage etc.
      I got glimpses of it working trades though and I now have a small side hobby for DIY home improvement.
      It made me realize how important using that part of your brain is. Mechanical problem solving is another whole skill.

    • scrapper276
      scrapper276 Year ago +1

      On their own I meant

  • The Nesbitt Experience

    This is spot on. I was the first to go to college in my family. I choose to be an educator in the arts. Left me totally impoverished and still paying for college 20+ years later. The school didn’t pay a living wage and I lost my house. I gave up on the game years ago. I try not to buy anything.

    • Study Buddy
      Study Buddy 6 months ago +11

      @Michael Cap they were the first to go to college in their family years ago. How were they supposed to know?

    • Michael Cap
      Michael Cap 6 months ago +3

      STEM is the answer, not the Arts.

    • Abir Rzaev
      Abir Rzaev 6 months ago +2

      come to China, there are lots of art teacher positions very well paid !

    • 𝘿𝙚𝙢𝙞𝙜𝙤𝙙 𝘿𝙧𝙞𝙫𝙚𝙧𝙨
      𝘿𝙚𝙢𝙞𝙜𝙤𝙙 𝘿𝙧𝙞𝙫𝙚𝙧𝙨 7 months ago +6

      Move to a different country: problem solved
      If you leave the country then you won't have to pay debt

    • Gorky D
      Gorky D 11 months ago

      Colleges are raking in billions of dollars every year but just look how they pay their employees. This is why I don't trust economic solutions from academics. They don't operate in the real world, nor do they have the benefit of moral guidance. Most are still using Marxist ideas from the 1800s, despite 150+ years of outright rebuttal. Many academics are now expecting robots to replace the workforce, as if 200 years of mechanization did not answer that question already. Robots will not replace the workforce. You, right now, can quit your educator job and learn a trade (plumbing, electrical, landscaping, etc) and make twice as much money plus enjoy an arguably healthier lifestyle.

  • anabellik
    anabellik 11 months ago +47

    Just out of curiosity, if you drop these "SAT" exams, how are you going to decide which students should be admitted? Is there an alternative way to determine who is most likely to do well at the university? Like, entrance exams, or something like that?
    I can't imagine deciding the admission by high school grades, that would be the most unfair system in the world.

    • Cyn
      Cyn 4 months ago

      In the Netherlands we have a national test at the end of school. Every student takes the same test based on their level of education. You take one for every subject you have and get tests for (gymnastics doesn't have a test for example). I took 11, someone in my economics class only took 6. You can't graduate without.

    • Retarded
      Retarded 6 months ago

      The Irish leaving cert for example. We had predicted grades last year due to covid and they based it off grades from middle school equivalent to high school

    • Chris Nguyen
      Chris Nguyen 6 months ago +12

      There's too much emphasis on SAT scores when trying to explain inequality in education. Honestly, other measures can be worse and more unequal than SAT scores. High school grades? If your family is wealthy, then they probably live in a richer school district with better teachers and funding (and subjective grades are much easier to manipulate from parental pressure than standardized tests). Extracurriculars? Again, richer parents have the time and the money to put their kids in many different activities. Low income families can't compete with that. Essays? You can pay someone to write that for you. You can get rid of SATs but doing that won't make up for a lifetime of inequality by the time students even take that exam.

    • Rhodesians never die
      Rhodesians never die 7 months ago +11

      @T S Well, High school grades would still be an incredibly unfair way of determining admissions since teachers can inflate the grades for some students based on behaviour and other factors and vice versa. Here in the UK we have standardised (national) tests and qualifications but as far as I'm aware this isn't the case in america.

    • kim Whatmatters
      kim Whatmatters 7 months ago +7

      Grades , extracurricular activities if they’re in student government & essay. It’s still merit based just not all riding on a eugenics designed test. It doesn’t test intelligence it test you’re test taking skills. So the rich or ppl with scholastic resources do better because they practice test taking skills by paying a after school program 2k every yr to craft this skill. Those test taking programs guarantee results most of the time your score usually improves at least 100 points on your SATs. A lot of the science and math is low level algebra so if you made it to the 10th grade you’ll do well it’s just about comprehension in the way that they want you to comprehend it and also the reading a lot of the time is cultural so if there’s like a moral element to it if you come from a different background you might not take away the same thing from the story of someone else. So the theme of something to you might be drastically different to someone else because they’re subtext.

  • Laura Abrego
    Laura Abrego 4 months ago +30

    I had to become a sexworker to break the chain of poverty in my family line. Used the money to buy a house and have some savings set aside. I paid for school as well and have no student debt but I cant say that school helped me in any way. If I could turn back time id rather have saved that money as well instead of wasting it on college.

    • The Savage Wombat
      The Savage Wombat Month ago

      You learned to express yourself well in YT comments.

    • Juan Navarrete
      Juan Navarrete 2 months ago +2

      if you dont mind me asking, what was your reason for going to school? and in addition, what was/is your major?
      And finally, did you network while you were in school? It was mentioned in the video that often times, the biggest problem with getting a degree is the networking part of it

  • Gary Padiham
    Gary Padiham 23 days ago +6

    I went to university in the 1970s when only 12% of the population went to university. In my class I found the other students had dads with occupations like a pilot, architect, lecturer, dentist, business owner. I had problems making friends with them, maybe because my dad was a waiter. I did not seem to have much of an ego in comparison to them. One said I was a sub-person. They would talk about their family as if it were normal. I would never talk about my family which must have seemed odd. I did not have much of an ego because family were also negative towards me, they did not have a car so I was never driven anywhere, I did not have birthday parties or holidays, at school some friendships ended because I repeatedly went around their houses and their parents got fed up as my parents would not allow my friends to visit, etc. My parents never visited me at university and when I got married my parents had no interest in coming to my wedding. It is easy to say get poor kids into university. You may be sending them to a place where they will not fit in and will not be accepted.

    • Barrios Groupie
      Barrios Groupie 5 days ago

      Did you marry someone from the same background?
      Your parents probably didn't go to the wedding because they may have felt out of their comfort zone.

  • Zachary Stansfield
    Zachary Stansfield Year ago +183

    Many regions in America have a practice where school funding is directly tied to the property values in that neighborhood. This is a regressive school funding system that creates an educational system that reproduces the income inequality of the community. In contrast, where I live in Canada, our provinces use a pooled funding system. As a result, schools throughout a community have similar levels of funding, regardless of the wealth of the community. This system is the norm for developed nations outside of America. It is odd that the Economist cites this idea of actively moving people from areas of low to high opportunity, without reflecting on obvious solutions that can improve outcome inequality. Ensuring fair funding in K-12 schooling is just one of many obvious solutions.

    • Goose
      Goose 6 months ago +1

      It's the opposite in Australia, all schools are supposed the same amount of money (let's face it, private schools end up getting more) and schools in with certain percentages of students coming from lower socio-economic areas get additional funding

    • Tía & Ashtyn
      Tía & Ashtyn 6 months ago

      Precisely! This system of funding schools is the most obvious reason we have such different educational systems from neighborhood to neighborhood. It’s disgusting.

    • Jack Uzi
      Jack Uzi 7 months ago +1

      Yep. I live in an area I can barely afford, in order to give my kids access to some of the best schools in the state. There are also the intangibles, like I hope they will make friends who are success-oriented. If I lived somewhere else (with cheaper housing), I'd have more money to spend with/on them. So I'm not totally sure I'm doing the right thing. I guess I'll know in 20 years.

    • Tal,Scriver
      Tal,Scriver 10 months ago +2

      And kids still come out of the Canadian school system dumb as a post and herded towards post-secondary school. It would be better for many young people to stop school at 16, enter the workforce right away and advance their education as they work - so many more opportunities to do that these days.

    • M X
      M X 11 months ago +6

      I grew up in one of these neighborhoods. When I was in 6th grade we had a career day of sorts. They brought in three people: a man who taught us some basic Japanese, an FBI agent and someone from Merrill Lynch who taught us about the stock market. This was a public school, not a private school but it could not have been more different from the average public school experience. Tax dollars make a HUGE difference in the quality of your education if you grow up in the American suburbs.

  • Donna Shree Ingti
    Donna Shree Ingti 6 months ago +20

    Sometimes I feel that the system is literally designed in a way to push and make wealthy ppl more successful

    • DO NOT COMMENT
      DO NOT COMMENT 12 days ago +1

      Its called capitalism. Its a gift that keeps on giving...and with America's downfall, you are going to see the worst of it.

    • Shane Patrick
      Shane Patrick 3 months ago +1

      @The Empire Was Right Well aren't we about to head into a recession worse than the 2008 one??

    • The Empire Was Right
      The Empire Was Right 6 months ago +7

      It is.
      The numbers are clear and wealth inequality figures are very tangible.
      The sad thing is that the only way to equalise this gap is for a catastrophic event to occur such as civil war or a recession so extreme that it makes the Great Depression look like a hiccup.

  • Tyler Carriere
    Tyler Carriere Year ago +132

    I love how the wealthy say that if you distributed all the money equally, that it would end up in the same place. Then why are they so terrified to do it?

    • Jean Lundi
      Jean Lundi 12 days ago

      Because their whole MO operates on selfishness and being better off than others. Their social skills would fail them in such a scoiety - they wouldn't know how to live in a world where everyone is equal.

    • Melzerz Vlogz
      Melzerz Vlogz 6 months ago

      Like Cambodia did

    • spark300c
      spark300c 8 months ago +2

      that because it won't. Once some people have capital they start a business. They could not done it befor because they did not have money. Some inhered their job and know if they did not have connections they be working at McDonnell's.

    • Bennick Clayton
      Bennick Clayton 10 months ago +1

      @Ankan Senapati or anyone (tax evaders)

    • Renato Marques
      Renato Marques 11 months ago +8

      When they say "same place" they don't mean "right back into their specific wallets". They mean that money would concentrate again into the wallets of few people. You can't predict who those will be. It's basically "reshuffling" society, just so we get back the same situation, but now if you were wealthy, you're most likely to be poor. I hope now it is very understandable why you would be terrified of it if you were in the same situation.

  • munib1000
    munib1000 Year ago +281

    In the 90s my uncle got an entry-level job with a bachelors degree with one programming language (SQL), the same job I've seen requires a master degree and working knowledge of around 5 different lanauges.

    • The Savage Wombat
      The Savage Wombat Month ago

      @Joey Nguyen It's guys like you that make real programmers less productive.

    • Joey Nguyen
      Joey Nguyen 3 months ago

      @Patrick M. Croft a structured query langaige :)

    • Lilit
      Lilit 3 months ago +1

      Don't forget the crazy competition ((

    • Patrick M. Croft
      Patrick M. Croft 4 months ago +1

      @A Achyut Oh? What is it then?

    • Myroslav Dovhaliuk
      Myroslav Dovhaliuk 5 months ago +3

      ​@Moctezuma Aleg easier, because we have the Internet now. 50 years ago it was almost impossible to learn this things outside the university or IT company.

  • BYOGAW
    BYOGAW 9 months ago +13

    thanks for making this video. I just had one point to add. although the SAT or some open public exams have their own problems or have some discriminating factors, they are still an "fair" tool compared with other measures or entrance criteria. at the very least everyone is doing the same level of exams. By using other methods, those privileged and middle-upper classes may enjoy higher and better chances compared with EXAM. HK is an excellent infamous example....

  • andy Meh
    andy Meh Year ago +144

    What annoys me more than anything is the preferential treatment someone with a degree gets over someone without, regardless of profession. A lot of careers can only be learned by experience and training, by learning from mistakes in the field. The amount of times I've had someone with a degree try and trick me into being a scape goat for them because they've bitten if more than they can chew beggars belief. It seems to me that most universities are merely day care centres for the adult children of rich parents.

    • andy Meh
      andy Meh 6 months ago +3

      @BigHenFor I work in construction and my job is skilled, but has been deemed unskilled labour by a bunch of clowns with degrees who feel the need to step between me and my hard earned pay check. I chose to be a plant operator and got the relevant training and experience, I can accountably prove my worth and who leeches off of it. My specific role is in high demand, but the value of it has been obfuscated by wankers with mickey mouse degrees who have created a closed network of wage theft, and yes, they all have degrees. It is how the industry gatekeeps decent pay. Basically a group of wankers tell a prospective investor that they do all the work and lie about the value of everyone else, it's not a question of 'adapting' when an industry is inherently corrupted over a period of time.

    • BigHenFor
      BigHenFor 6 months ago

      I don't know what sector you are in but you don't need a degree to be amoral. Office politics are toxic everywhere where the corporate culture tolerates or facilitates bad behaviour. And sadly, politics seems to reward bad behaviour. So, whilst I empathise with your frustration, labelling all graduates as problematic says more about you than it says about graduates. It suggests that you don't have the temperament to adapt to the changes in your workplace, and probably resent them. That approach isn't exactly helpful. Your "problems" reflect your priorities. And everyone has problems but, if you are having problems you are not content to manage, it shows your present priorities are wrong for you. You can either treat your situation as a challenge to find and adopt a strategy to address your issues, or retreat into resentment and victimhood. You have choices about what your priorities are. You can choose about how you deal with the problems that are the result of your priorities. So, take a look at your priorities, and choose to do something to maintain and promote the ones that help you, and ditch the ones that don't. You can't control others, but you can decide to do things differently for your own sake. Remember, you're in a world that is always changing. And a degree is becoming an entry-level qualification to everything that isn't a blue-collar profession, whether its needed or not. In my society, even minimum wage jobs are requesting graduates. That's just the way things are. But that doesn't have to be a problem. Negotiating the difficult waters of office politics is a skill that can be learned if you want to learn it. But if you don't - and that's a valid choice - that entails consequences, and you have to deal with those too. Perhaps it's time for some self-reflection, and to make some plans for your future based on what you discover. Start steering your own boat, instead of being blown off course by what others do.

    • Everything Of Indian Cinema.
      Everything Of Indian Cinema. 6 months ago +1

      Way too true. I want to slap people with degree's who think that they are better than those who don't have degrees. Education is not intelligence.

    • D Carbs
      D Carbs 11 months ago +3

      @andy Meh No skilled labour "requires" a degree to begin. Any practical job can be learnt on the job (assuming the business has the time and resources to train), from zero knowledge. You may be better placed to start with more knowledge, as you've demonstrated. From my experience, there is no value to a degree any more, they are far too common for that. Mine hasn't been of any use or value! In fact my highest paid and most skilled jobs, I left my degree off of my CV to get them!

    • Gorky D
      Gorky D 11 months ago +2

      True, university education is just lazy sorting for most companies. Oddly, often companies are built by non-grads yet they now hire only grads, but it's easy to do this because so many people go to college now that those who don't are seemingly bottom-performing.

  • Joy L
    Joy L Year ago +35

    This is interesting. I grew up in a great place, but I have learning disabilities and chronic illness, and wondering if me taking longer to do a degree will affect me, and if I'll face challenges in finding a job that doesn't just ignore me due to my challenges. It make interviews very difficult, so even though I can write decent cover letters, sometimes that's not always enough to get me past the interview stage when they see my memory and social challenges. But the hardest is the "3 years full time work experience required" part of most jobs, when I've been in school my whole life and didn't have an opportunity to get experience other than classwork and volunteer projects which often don't count.

    • Tiffany
      Tiffany 4 months ago

      is there a local organization you could work with that can help connect/align you with roles?

    • Tal,Scriver
      Tal,Scriver 10 months ago +2

      Government jobs tend to be forgiving to people with disabilities. They have quotas so you should absolutely use that to your advantage.

    • TCJones
      TCJones 11 months ago +1

      @Guilherme Freire are you an idiot? Its everything to do with the video just on a personal scale, the video talks about people needing degrees to move up in life and here they are saying they will struggle to get one. The video talks about the hidden benefits of having a social network of friends and people you can call upon to help you and they talk about have social challenges and there for prob lack that ability connect and network and so dont have the contacts to help them in those subtle ways, the end of the video showed people setting up clubs to give support to other likes them, lacking those soft skills and contacts to people with them!

    • hewpack
      hewpack Year ago +9

      I hear you. The ableism in education and the job market (and just in general).

    • Guilherme Freire
      Guilherme Freire Year ago +1

      No offense but how does that relate to the video kid?

  • Nate Dogg
    Nate Dogg Year ago +35

    I feel like in Canada it's pretty common to move in either direction on the income ladder. My dads parents were upper middle class, he slid to working class, I grew up working class and moved back up to upper middle class by my mid-late 20s. Paid off my student loans in 6 years, got lots of government grants to help me out

    • Vishal Kanwar
      Vishal Kanwar 11 months ago

      @EauClaire lol

    • EauClaire
      EauClaire 11 months ago +14

      @Vishal Kanwar Lol. You don't know much about socialism if you consider Canada a socialist state 🤣.

    • Vishal Kanwar
      Vishal Kanwar 11 months ago

      Lol… Canada is a socialist state.. there’s not much margin to begin with… It’s easy to go from working class upper middle .. but equally easy to slid back down

  • David Wright
    David Wright 11 months ago +17

    we make average salaries, live in a 1 bedroom apt and have for years, travel yearly and have zero debt....And we couldn't be happier! if you increase your income, maintain the same standard of living....then you will realize what it's like to live....Living is not owning...Living is experiencing what life has for you...imho

  • drmadjdsadjadi
    drmadjdsadjadi 6 months ago +2

    I really wish that videos like this would emphasize that relative income mobility is totally different from absolute income mobility. We really need to worry a LOT more about the latter than the former because it is theoretically possible for everyone to increase in absolute income mobility but if we increase relative income mobility that means that we not only will see more people doing better but we must, BY DEFINITION, also have more people doing worse. That is because relative income mobility is simply about relative ranking, while absolute income mobility is about actual wealth.

  • Aline Cardoso
    Aline Cardoso 9 months ago +5

    In my country it has been pretty difficult, we have been facing terrible times since 2013, lots of people had lost their jobs and some of them are still unemployed since then, I have a cousin that took 6 years for him to join the workforce again, I've been searching for a job for almost 2 years, and it turns out that the job hunters doesn't want to employee people who have not been working for so long, and the housing market is extremely expansive, my father bought his house more easily, nowadays the vast majority of people spend more than 30 years to pay their houses or will live paying rents.

  • Latex Rope
    Latex Rope 6 months ago +2

    Speaking as someone with 2 degrees, the only ones in my family, I think this is sidestepping a more fundamental problem. Rich countries have outsourced our dangerous and polluting manufacturing and technically skilled jobs to countries with less or no effective regulation or labour laws. Those skills are therefore less valued and less respected here. If we hadn't, then multiple academic credentials would not be the exclusive route to a decent living.

  • Gabriel Codina
    Gabriel Codina 2 months ago +1

    This fills me with a lot of mixed feelings. I'm from a low-income family, but my passion for higher education has never been money. It's been more about sustainability and improving quality of life through personal passions. I think this has informed me much of the impact money has on quality of life.

  • Massimo Donadio
    Massimo Donadio 11 months ago +5

    Even if you create an elite based on IQ you still condemn all the other people to misery. It's not much different than having an elite based on some other criteria, perhaps we should start accenting that human beings are valuable as such and drop this crazy competition to the top

  • ROHAN BIRAJDAR
    ROHAN BIRAJDAR 11 months ago +79

    The main problem I think is the mentality of parents. Poor parents limit their children's thinking, lack of freedom to think freely. Children look up to theirs's parents for conformity of their actions and decisions. This leads to a lower level of confidence in the child and continues till they become adults.

    • Lilit
      Lilit 3 months ago +3

      I agree that the same thinking is projected to their kids but when you have limited resources you have to think multiple times before doing every step cause you may be hungry for every wrong path you take. I don't blame them.

    • Twiggy Bridges
      Twiggy Bridges 5 months ago +6

      Mmm not really. Lack of resources in low income family plays a very big difference in the outcome of kids. In rural areas that are poor, mobility is low. Low mobility is one of the biggest barrier that keeps families in that same area. Some parts of America still do not have internet. Schools and libraries are 10 to 20 miles from their home.

  • Joanne Cantin
    Joanne Cantin 5 months ago +1

    As important as education is, the pandemic has taught us how valable people in the service industry are to our society and yet, they are extremely underpaid and in short supply. If we valued people for what they contribute to society and not just their degree, we might find more people willing to take care of our children, as well as the sick and elderly, instead of having all of us chase after the same accounting firms and engeneering jobs.

  • Sam R
    Sam R 6 months ago +116

    One ultimate reason why the rich got richer: taking risks. Poor people really can't afford to take risks, be it starting a business, investing, etc.

    • Family friendly Videos
      Family friendly Videos 2 months ago

      The system is all about profit anyways

    • Guten Morgen
      Guten Morgen 4 months ago +2

      It's true. Trump gambled a lot with borrowed money, declared himself bankrupt 6x, and still won as US President. An average person declaring bankruptcy just once would have a waaaay harder time recovering their credit standing (and thus ability to buy things like a home and a car or loan for a business venture). The rich (and usually white Americans) are given more slack and benefits by the financial system compared to poorer POCs

    • Who Dis?
      Who Dis? 6 months ago +13

      You are wrong. Rich people don't take risks. They have so much money to spare, they don't even care if they lose it. So all in all it is not a risk for them.
      Poor people simply have nothing worth offering to even enter a round of this so-called "risk taking" game
      You are just repeating these nonsensical phrases fed to you by the rich. Or you simply are rich yourself.

    • Goddess
      Goddess 6 months ago +1

      totally agree with you!

    • Kia K. Matthews
      Kia K. Matthews 6 months ago +35

      Also the safety net of generational wealth (i.e. having family with means that you can fall back on) that includes but is not limited to-- a stabilized secure and foundation of secure housing, clean environment, ability to travel for "cultural" education, access to higher ed opportunities (even if not taken), and career networking opportunities are major factors that benefit the wealth.

  • Colin Dant
    Colin Dant 7 months ago +8

    Of course it was easier to get ahead in the post-war era. There was a shortage of labour for obvious reasons, and plenty of work needed to be done in areas such as housing. Grammar schools gave greater opportunities for social mobility than had previously been the case. Furthermore, economic circumstances were favourable. However, from about 1973 onwards, economic circumstances became less favourable. The irony is that, at the same time that access to higher education increased, many youngsters have been sold down the river, ending up with considerable debt and with degrees of limited value in the marketplace to boot. Then, the relaxation of credit controls in the early 1980s started a trend in house prices which has priced most under 35s out of the housing market. Total madness!

  • François Laverdure
    François Laverdure Year ago +938

    Social mobility has many facets which are often underestimated. One of them which might sound strange is urban planning and architecture. Being trained as a city planner, I tend to be very sensitive to these issues. Most cities have a tendency to do segregated planning where the richest are kept as far away from the poorest as possible. In reality, the best planning involves diversity of incomes and housing types so that the richest inspire the poorest through daily close contact. The neighborhoods and buildings that are planned in such a way tend to have a much lower crime rate (which in terms reduces the policing costs) and offer more opportunity to the people.

    • The Savage Wombat
      The Savage Wombat Month ago

      Poor people scare the rich. They scare me too.

    • Kieran Rollinson
      Kieran Rollinson 5 months ago

      Citation?? :D :D

    • Pitah1
      Pitah1 5 months ago

      @François Laverdure I was born in Curitiba and live in Joinville SC.
      Curitiba is a nice city.

    • François Laverdure
      François Laverdure 6 months ago

      @Wilson Glasser while we can't control the market like you said, there are still some things that can be done through regulation to make sure everybody has a place. Cities have in most jurisdictions the power to make land reserves that they can use later. They can force builders to offer a certain percentage of their new constructions for low cost mixed housing. They have the power to build pretty much as they see fit. Just to say that they can do it. The only big question that remains is if they will accept to do the hard work or will they just use the usual method of "laisser faire" that we've been seeing so far?

    • Wilson Glasser
      Wilson Glasser 6 months ago

      @François Laverdure Just like the example of Darwin from Graham Jabob here, how can you stop the market price from going up or down? In the Graham example the prices goes up, driving out the lower income people. In Sao Paulo for example, in the district of Morumbi, due to begin nearby a low rate neighborhood, high income people are leaving, driving the price down. In the end only low or high income people remains.
      This is not a problem for urban planning to solve, before even trying, the society needs to change, this is why it's works in scandinavian cities.

  • John Koch
    John Koch 7 months ago +2

    This video prescribes four paths to greater upward social mobility: 1) abolish college placement examinations or "legacy" admissions, making higher education a universal entitlement, more or less like extended high school; 2) universal pre-K playschool, which the US Head Start program tried for years; 3) pay or subsidize poor people to live in pricier (by definition exclusive) neighborhoods; and 4) promote social networking among alumni of public (in UK government) schools, which LInkedIn or FB perform anyway. All this is supposed to "pay for itself," on the blithe assumption that every beneficiary will earn a lot more money. But this is unfounded and counter-empirical. Inequality has increased, DESPITE a rise in schooling or housing aid since the 1940s. Young people, of ANY given status, other than perhaps the top 5%, are likely to earn less than their parents, whether the elders were humble laborers, unionized factory workers, white collar employees, or even primary care physicians. The job market for most people with four-year degrees, but no other experience or skills, is saturated. The existing university system is a very inefficient and expensive scheme anyway. That is by design! Top schools, with endowments in the billions, could (yet won't) offer online degree programs for free, with video lectures, texts, tests, and instructor interaction, with no entrance hurdles at all. But the attrition and failure rates would be high, especially in the severely competitive STEM fields. To "pass" all students, or inflate grade point averages, would nullify the significance of graduation to potential employers, who would then insist on other hurdles: advanced degrees, exceptional prior experience, or influential references. Employers (and society at large) have always counted on the school system to tier people so they can pick the winners and avoid the losers. This is no different than recruitment for professional sports. Growing industries may crave the top 25% of STEM graduates, or half-accommodate the next 25%, but avoid the bottom 50%, which the rest of potential employers will rate "over-qualified," and ask, "Why the heck didn't the high schools guide these kids into the trades?" By the way, many of the trades (HVAC, plumbing, electricity, mechanics, policing) are tightly knit, and very difficult to enter without serious networking or social capital. It is easier for high schools to push graduates into colleges than into apprenticeships or valid training programs. The for-profit trade schools have notorious failure rates.
    The assertion that places like Iowa or the US Upper Midwest (aka the Rust Belt) offer higher upward mobility is preposterous. These are zones of low job growth and out-migration. The downwardly mobile young people, or the down-and-out elders, simply move to states on the coast or Florida. The surveys probably under-count the undocumented poor that plant operators in such states import from abroad.

  • Light the World on Fire

    Agree with everything except one thing. Removing the SAT. This is giving equality but not opportunity. The solution is to make available ALL the material to study for the SAT, not remove it from the admissions. Your following stories even backed what I am saying. Fix the source of the problem not cut off the end. It's like saying since 30% of people can't afford cars no one should have one.
    There are students who are incredibly bright but have disabilities that hinder their grades. Their only way for others to see how intelligent and gifted they are is a standardized test for college admissions. I knew a person like this. 165 I.Q. grew up in a poor environment, father then died, brother then died. He never finished high school. But he did take his SAT and scored off the chart. The prestigious college gave him an opportunity.
    The rest though is spot on. It upsets me when people say "just pick yourself up". I have to explain to them their lives, their upper middle class family, their lack of neurological disorders, their reasonably high I.Q. That's winning a lottery.
    Growing up in a poor environment, not getting stimulation, not getting opportunity to exercise your brain is a life killer.
    I know from personal experience. My intelligence qualified me for advanced courses. I barely passed high school taking classes that were lower than my grade. My parents were clueless to my school work. I highly suspect I had ADD. The school didn't care even though every year my standardized test scores were in the 95+ for math. Luckily I got out of my mess later in life and became successful.
    People in this position, kids especially, don't know what they don't know or how to find it.

    • Mikayla Woolley
      Mikayla Woolley 6 months ago +1

      There are a lot of studies that show little connection between SAT scores and college success. Grades often reflect some level of effort e.g. completing assignments that is needed in college, and the SAT does not. Bright students who ace the SAT but had poor grades in HS are likely to have poor grades in college too.

    • Graham Jacob
      Graham Jacob 11 months ago +1

      When you have tutors they explain the "whys" and "wherefores" it's not just about the material.

    • rei vargas
      rei vargas 11 months ago +1

      iq is hugely socialized so idk i disagree.

    • Lenazuki
      Lenazuki 11 months ago +1

      I dont understand why they want to remove SAT, too

    • Tomas Garza
      Tomas Garza 11 months ago +1

      Great comment.

  • Luis Vilchis N
    Luis Vilchis N Year ago +18

    The real problem is not in the education system, yes is part of the many things that have to change, but the problem is in the economic system. The enterprises are looking for more benefits so the job opportunities are worst.

    • 吃饱撑着无事做
      吃饱撑着无事做 11 months ago +5

      Agree. The richest Americans became 40% richer during the pandemic

  • Ethan B
    Ethan B Year ago +5

    I dropped out of college yet moved up relative to my parents peak income. What I've noticed is that most people around me prefer to quit, to the point that I've gotten promotions just because I have perfect attendance. So, from my perspective, it's real tough out there if you don't come into work and have no side businesses to rely on.
    I also have invested in developing my own business and own a few apartments. I think hitting your goals is possible for everyone assuming they plan for it and think about how small choices could affect your 5 or even 10 year outlook financially.

  • Georgije2
    Georgije2 Year ago +1552

    I'm from Slovenia, which has the lowest income inequality in the world (according to Gini coefficient). And I must say that we don't really have problems like the ones described in this video. I think the main reason is that even university education is free, and equally accessible to all. And we also don't have such differences between neighborhoods, even in the "working class" ones there is no crime or social mobility problem.

    • Jean Lundi
      Jean Lundi 12 days ago

      I used to think Slovenia was pretty awesome until recently, where I heard it has the largest percentage of furries per capita in the world.Nothing creeps me out more in the world than furries.

    • David Yolchuyev
      David Yolchuyev 4 months ago

      The same in Azerbaijan. I live in the USA now, and I still don’t comprehend gun usage. In Azerbaijan, nobody has guns, even the road police lol

    • dadt
      dadt 4 months ago

      @Patrick M. Croft Search for "Countries by inequality" and "Inequality measures." I don't know why you tell me about Germany and Greece. Both of them still have inequality much lower than in the US.

    • Patrick M. Croft
      Patrick M. Croft 4 months ago

      @MrR40388 CEO's getting paid in stock is just a cashflow issue. If they did get paid in cash they could immediately buy stock but the company would have to come up with the cash.

    • Patrick M. Croft
      Patrick M. Croft 4 months ago

      @dadt "EU inequality is much lower than the US" -
      This is based on what? Greece literally went bankrupt and ended their social programs and adopted austerity whereas Germany consistently has one of the highest standards of living in the developed world.

  • Tal,Scriver
    Tal,Scriver 10 months ago +12

    I encourage every 16 years old who is not aspiring to a life as a professional doctor, lawyer or accountant to leave school and enter the workforce. You can always go back to school later on the company’s dime but starting to earn 5-6 years before everyone else and not having student debt will put your far further ahead than waiting until you’re 40 to get out of the red.

    • The Savage Wombat
      The Savage Wombat Month ago

      @Nachannachle I escape reality by posting comments on YT.

    • Nachannachle
      Nachannachle 6 months ago +1

      Agreed.
      I got into the workforce at age 20 after finishing my MA degree (I had graduated from High School at age 16, 2 years ahead of most people, but I had failed entrance exams to "Elite institutions") and, after 15 years of non-stop working/relocating overseas, I was able to eliminate the small student debt that I had accumulated as well as retrain into a new career with the help of scholarships & savings.
      I am now (at age 37) in a financial, mental and social position that is much more suitable to my personal and family needs.
      The most important thing in making "progress" in life is knowing that you have to sacrifice something at some specific points in time in order to get something better further down the line. But, from what I have seen in my peers and family members, the dominant mentality is still "I must get results NOW, or give up ENTIRELY."
      Sad to say that resilience is a VERY underrated quality in young adults, as they still prefer to distract themselves with gadgets, toys, and escapisms of all sorts to avoid facing reality. 🤷‍♀

  • Horte Highwind
    Horte Highwind 6 months ago +3

    As someone who studied at Uni and from a blue collar background the social capital is really an important thing, it’s what gets you into a company and giving little presentations about who you are and what your goals are, should’ve practiced at uni.

  • Duder
    Duder 6 months ago +2

    Excellent episode, thank you for analyzing this issue👍

  • Anastasia Autumn
    Anastasia Autumn Year ago +99

    "America is one of the only countries in the world to have legacy admissions, were colleges can actively discriminate in favour of the children of alumni", disgusting.

    • E. G.
      E. G. 7 months ago +5

      I wish it was made illegal. It's unfortunately so common. Yet they want to yell about the handful of black and brown students allowed to get in. That tells you everything you need to know about what is valued.

    • Tal,Scriver
      Tal,Scriver 10 months ago +6

      That happens in many companies too.

  • m
    m Year ago +1159

    Cost of living has outpaced wages. Now with inflation, it's getting worse. Corporations need to be incentivized to pay higher wages.

    • Shane Patrick
      Shane Patrick 3 months ago +1

      @S W Totally agree!

    • Ssukhdeep Kaur
      Ssukhdeep Kaur 3 months ago +1

      Have you considered using your power. Have you ever considered striking , protesting and simply not working

    • pamela lima
      pamela lima 4 months ago +1

      @Lottiya they can’t make less profit in their business… I understand, it’s not easy to keep millionaire life styles

    • pamela lima
      pamela lima 4 months ago

      @F N yes less taxes more income for the workers

    • pamela lima
      pamela lima 4 months ago

      They’ll not do that because they want to make more and more profits and btw the governments are giving so many vouchers and financial assistance to keep people in poverty and dependent on them (USA)

  • Cyn
    Cyn 4 months ago +1

    I realized a few days ago how the way you grow up can affect your life. I didn't grow up in poverty, we had enough money to go have a normal life. Compared to my peers, I did however. A friend of mine did grow up in poverty to the point where food was an issue. At some point our group started talking about how money can affect the way you react in certain situations. And depending on the background of people kindness was viewed in a different way especially when something has monetary value. To him it meant the world, to me it was something you just do. I bought a PC of a friend because he upgraded out of it (built his own, built a less powerful spare in the process) because I needed an upgrade. My old PC is still decent and I know that a lot of people struggle right now, so giving it away seemed only natural to me. To him it's this big gift that he can't afford, to me it's getting rid of something that takes up space and doing someone a favor in the process.

  • tutu apojp
    tutu apojp 4 months ago +2

    meritocracy is hard to reverse.... but if there are more organizations like what described in the program, and more people are awaking to this phenomenon, then there is still hope.

  • GG Dat Boi
    GG Dat Boi Year ago +20

    I think moving to the top 5% like the video states at the beginning is extremely hard. Especially with how much the top is moving ahead. However, moving to the middle class from the very bottom isn't that difficult. A trade job or regular stem job with some OT will probably do it.

    • Gorky D
      Gorky D 11 months ago +1

      In 60 years the current leading billionaire will be probably dead and their estate divided among dozens of recipients. So the upper class getting away from the bottom is a bit of an illusion, the top earners are earning more than the bottom but those actual people are changing every year it's not the same people as it was 10 years ago even.

    • Scott
      Scott Year ago

      @Asmi Rann I'm assuming you are being sarcastic. Math and the law of averages says that the majority of Americans will be "average at best". More specifically half of all Americans will be median or lower. The same thing said another way, most Americans will never make it to average income.

    • GG Dat Boi
      GG Dat Boi Year ago

      @Scott Idk that was pretty much the premise of the video at the very beginning. The graph they showed showed the percentages for people moving on to the very top from the very bottom. Then the video transitioned to regular mobility towards middle class later on.

    • Asmi Rann
      Asmi Rann Year ago

      @Scott It is easy because you only have to get ahead of just 95%.
      Being in the .001% is hard.

    • Scott
      Scott Year ago +1

      Being in the top 5% of anything is hard. Why would anyone think it is easy?

  • Cal Crappie
    Cal Crappie 6 months ago +23

    Getting a degree means very little when it is in the wrong major. Pick wisely. Military has excellent schools and training as well. Again, pick wisely. Trade schools can be excellent training with surprisingly high salaries for the in demand high-skill trades. Use the internet for something more than fun. Research the fields you are interested in. Go visit companies that do what you are interested in. Ask questions.

    • Akira M
      Akira M 6 months ago

      Trade schools are also getting more expensive and some of them are outright scams.

  • ThePapawhisky
    ThePapawhisky Year ago +585

    I grew up in a trailer park. Schools were minimal standard. But when I finished high school in California in the 70’s, Community colleges were free and the California state university system was almost free. I got a degree in electrical engineering. Now I am retired. But I will always be grateful to the people of California for creating opportunity.

    • Luis
      Luis 3 months ago

      @Andy Manor That's because you pay the minimum required. If you were more aggressive in paying your debt, you wouldn't have accrued so much interest....

    • Tal Moskowitz
      Tal Moskowitz 5 months ago

      @Ninja Master Steve Jobs attended Reed College, an elite private undergrad school in Portland, Oregon. He didn't quit because of finances. Read Isaacson's biography.

    • E.N. Strowd
      E.N. Strowd 6 months ago

      @Davis HolmanPartly that, and higher prices with and without tax.

    • Andy Manor
      Andy Manor 6 months ago +3

      @flounder when millennials were in school we constantly were told to just go to college. Study what you’re interested in studying and you’ll make a lot of money. I was told the student loans would pay for themselves. I took out $20,000 paid back $40,000 and still owe $35,000. I was 23 when I graduated and I’m now 41.

    • Davis Holman
      Davis Holman 6 months ago +1

      Community colleges all over the nation offer reasonably priced tuition. California I has overspent & overspent - the high taxes there is the reason companies and families are living in droves. Where are they moving to? To the Republican run states with lower taxes & lower costs for living.

  • Gee
    Gee 11 months ago +1

    WOW. This open my eyes, pinpoint every root problem that used to look so abstract to me.
    I really hope that this social mobility could improve. I hope this world could be kind to every kind.

  • Humayun Shaikh
    Humayun Shaikh 11 months ago +3

    Great Information, Dear Idrees, there should be a series on this topic, make an informative video on that how free health care help to fight inequalities or social mobility, housing, industries, etc

  • Sara
    Sara 6 months ago +1

    It's really hard to get ahead when you struggle with learning. I have a learning disability and have always had a difficult time with learning and understanding things. People think that you are lazy but they don't understand. Higher education has not really ever been an option for me.

    • Al 1
      Al 1 6 months ago

      There's a lot of trades that are not exactly easy, but don't require years of learning and can absolutely be learned by someone with a learning disability. If you don't have any marketable skills and don't have at least a trade, it'd be hard to get out of low paying jobs.

  • U SA
    U SA 4 months ago +1

    I grew up on the west side of Chicago with 5 other siblings that graduated with a college degree. I also have a disability but I still make more than all of my siblings and friends. It's your determination to succeed that will allow you to make more than your parents. Angela Lee Duckworth even talks about this.

  • Jack Johnson
    Jack Johnson Year ago +15

    Never seems to be talked about that increasing social mobility also means having more rich-born people end up as failures. Not that that's necessarily a bad thing, but doesn't quite have the same rosy ring to it.

    • Nachannachle
      Nachannachle 6 months ago

      Well, you have the opportunity to get hired by these "failed rich people" who will pay you big bucks to do the things that their brains/arms can't do. 💸

    • Gorky D
      Gorky D 11 months ago +3

      Nah it just means there are more opportunities for the poorest people. I.e current financial or social status does not limit upward mobility. This situation is caused by economic and technological progress mostly. Rich people losing money is not affected, they won't lose more money when there's more opportunity and a growing economy. Rich people can lose just as much money playing poker in 1750 as they can betting on the market in 2000, it's unrelated.

  • kurdi98k
    kurdi98k 21 day ago

    Life was so easy decades ago. It feels like society is going backwards. My parents bought a house with 4 years' worth of salary. Today that's 40 years in the same area. Mind boggling.

  • Chris
    Chris 9 months ago +3

    I grew up in a bad area and had to move a few hundred miles away from where I grew up to get a decent job. Most of the young people hired at the company I work for are local and have absolutely no appreciation how lucky they are for growing up where they did. I had to choose between having a career or being close to everyone I knew, they didn't.

  • quippy
    quippy 6 months ago +4

    The problem is that we spend too much time talking about other countries' problems and haven't focused on solving problems of our own. It is not a coincidence that citizens from countries that spend less time talking down other countries have better lives. They spend their focus on the right issues that matter their fellow citizens the most.

  • Rick Thomas
    Rick Thomas Year ago +198

    They hit the nail on the head at 20 minutes. Having a two-parent family drastically increases a child's chance of success. It literally starts in our own homes, not in government solutions.

    • Shane Patrick
      Shane Patrick 3 months ago

      @Yosef Meltzer it is

    • Rick Thomas
      Rick Thomas 4 months ago +1

      @Shyama Dantu I know that. That's why I said above (twice actually) "increases you chance" as in statistically. There's obviously many exceptions to that."

    • Shyama Dantu
      Shyama Dantu 4 months ago

      @Rick Thomas 2 parents doesn't always mean stability that's what I mean

    • Rick Thomas
      Rick Thomas 4 months ago

      @Shyama Dantu I'm not sure what your question is.

    • Shyama Dantu
      Shyama Dantu 4 months ago

      you mean 2 earning parents who dont give their kids a stable ,healthy (physicallly,mentally) life to thrive. right?

  • Peter Wright
    Peter Wright 6 months ago +1

    My Grandfather finished school at 14, fought in WW2, worked as a Greengrocer and owned his own home filled with furniture and modern electronic goods in the 80's and 90's.
    My mother got A levels and worked in lower management in the civil service for 30 years. She could only get on the housing ladder because of 'right to buy'.
    I have an honours degree in Physics and work as a college lecturer. I will likely never own my own home.
    Progress?

  • wsross
    wsross Year ago +2

    I live in 3rd world country & my neighbour is filled with poverty, drug, gamble and robbery. It definitely take a lot of thing being in the right place at the right time to escape those viscious cycle. Seeing it retrospectively, i was extremely lucky and feel that hard work alone is not enough.

  • O K
    O K 8 months ago +1

    I didn't grow up rich nor poor, and i avoided watching this for pretty long cos it didn't make sense to me.
    My parents are great, they provided everything my sis and me needed and worked hard and gave us lots of books etc. Both of us are earning more than they did. I grew up in Malaysia and my sis migrated overseas recently. I am in senior management for a plc now at 34 yo. I know there are challenges but almost everyone i know who grew up poor tries their best and almost always end up better than their parents and help their parents.

  • Benjamin Lefkowitz
    Benjamin Lefkowitz Year ago +209

    Great video, really enjoyed it and found it informative. My one issue is that it focuses on smaller policy and ngo interventions- education, social skills, toys for children- while ignoring the wider systemic reasons for rising income inequality, like wealth as a rising share of profit over income, and lack to tax reform. I agree that it's useful to work towards getting more low income kids into Harvard, but i think it's more useful to make sure people can live stable and fulfilling lives without getting into Harvard. That means wide policy intervention to reverse national income inequality.

    • Daniel Buckton
      Daniel Buckton Year ago +1

      @Oliver And your solution is ?

    • Carl Wide
      Carl Wide Year ago +1

      How do you invest when there's no money? The Government is already printing trillions that don't exist, which becomes a tax on ordinary people. The US needs to massively deleverage, cut its trade deficits, and start cutting spending on a massive level just to stay solvent.

    • Gamelover
      Gamelover Year ago +4

      They can't do that..its the economist. Anything that strays away from pure capitalism will not be shown

    • Oliver
      Oliver Year ago +28

      That would mean The Economist admitting that the policies they have spent over 150 years advocating have caused the problem

  • suthesan arasu
    suthesan arasu 11 months ago +1

    I can only say! Don’t forget, where you come from! And don’t look down on anyone, after you get your degree or dream job. Use your background as a shield and try to make the world better for your children and next generation, when you make it.! 🙏

  • Isaías Abinadí Sosa García

    I love this idea, equality of opportunity, but if we're not careful we can think that that is the same as equality of result. And even though I agree that your circumstances really do affect your chances of succeeding in life greatly I think we should push forward movements like this that go to the roots of the problem without demanding equality of result.

    • Guten Morgen
      Guten Morgen 4 months ago

      Equality of opportunity is a myth. Equality of outcomes is much better. This is bec there are subtle/systemic barriers to certain groups of people (for example, a company may give equal opportunities for both men and women to apply for a job, but as a policy, only really hires men). Checking the outcome serves the undeserved more than checking the opportunity.

  • Chad
    Chad 11 months ago

    I was born in Jamaica but I was definitely not apart of that Jamaica program. I was fortunate enough that my father got admitted to a university in California and we relocated. I attended a University of California (under a track & field scholarship) and I’m a young white collar worker, but my story is filled with many lucky breaks. The same has not happened to many (if any at all) of my fellow prep school friends from Jamaica.

  • Maria S.P.
    Maria S.P. 6 months ago

    I loved this! Thanks, I'm going to use it in my class.

  • Haebris
    Haebris Year ago +166

    It's a problem that people born with wealth don't often suffer consequences for failure.

    • The Savage Wombat
      The Savage Wombat Month ago

      One of the reasons for accumulating wealth is to give your family greater opportunity. Opportunity can create success or failure. But you get more chances to succeed if you fail.

    • Family friendly Videos
      Family friendly Videos 2 months ago

      @Craig Arkensaw they can't lose anything, they're rich they can literally buy your family and force you all to be their slaves

    • Paul Hunter
      Paul Hunter 4 months ago +2

      Even when those raised in Wealth families fail, they have safely net to catch them. Donald Trump has never faced consequences for his mistakes. Every business he owned; Trump Airlines, Trump University, Trump Casinos and Towers lost millions. Yet, because his Father was multi billionaire, Donald Trump never directly suffered from those failures.

    • Haebris
      Haebris 6 months ago +2

      @kimaya. not just that. Her parents allow her to try multiple times, possibly even multiple different things, whereas if you fail one hurdle that could well be it for you. Even if you hav the "luxuary" of spending all of your minimum wage income on basic survival and you have a few hours a day to yourself, your only hope for social mobillity are the things with the lowest barriers to entry, which would allow you to train yourself to do them. The follow on problem being that those kinds of jobs still face the most competition, because of the low barriers which make it the only thing persuable at the time for you.

    • kimaya.
      kimaya. 6 months ago +5

      right my friend comes from a rich family, she flunks school and it doesn't matter because her parents make a lot so if she ends up failing, her parents can support her, but if i flunk school and fail, i would end up on the streets because my mother is already struggling on her own.

  • flounder
    flounder 6 months ago +5

    Many Millennials have paid tens of thousands of dollars in tuition, in the form of students loans to get degrees in art, literature, sociology, history, poli sci, psychology, philosophy --- but end up doing odd jobs. Now many have moved back with mom and dad, who own their own homes and work in industry as engineers, technicians, skilled trades that they first learned at community college and vocation-technical schools.

    • Cal Crappie
      Cal Crappie 6 months ago +3

      They didn't do their research. They listened to teachers or parents saying that ANY degree is important. Horrible advice. Fluff degrees are often a waste of time and money. The market determines what has value, not dreamy idealists.

  • Arvin Garcia
    Arvin Garcia 11 months ago +1

    As a parent, this video gave me a new liberating truth to raise my children. Thank you.

  • graciela vargas
    graciela vargas 10 months ago +1

    This problem is seen at any level of any society, to not to mention countries like mine in South America, where the fact of holding bachelors is important but even more the university where these are studied, that makes a huge difference between all educated people!!

  • John Endersby
    John Endersby Year ago +32

    So what test do they use instead of the SAT. Yes you can "work hard" to improve your SAT scores and wealthier people have an advantage but whatever you replace it with will also have wealthy parents gaming the system. You may find you are replacing one system with a less effective system.

    • Shalay Washington
      Shalay Washington Year ago +8

      You don’t have to take it. Just go to a community college, get an AA or complete up to 60 credits of gen Ed courses, then transfer. Cheaper and higher chance of acceptance.

  • FloydKnip
    FloydKnip Year ago +6

    if I had to pick one of the biggest societal issues... it would definitely be social mobility. It seems like there is so much attention paid to affirmative action programs... but really we need a solution for everybody

  • Nantie Muller
    Nantie Muller 3 months ago

    The reason is there was so much more opportunities for our parents, well depending on the country your from!! My dad and their generation was given free apprenticeships, scholarship were more readily available but their economies were also so much better, money was worth more and could stretch further!! Everything is so much different today than back then, I can't afford to buy a house, can't think when my children grow up how they are going to struggle!!

  • t-bone
    t-bone Year ago +6

    The Problem is also that even with higher education and better paying jobs, we still dont actually earn more because of inflation and price increases. I can be an engineer and still have the same living standard as my dad who is a factory worker .

    • Mia
      Mia 3 months ago

      Thisssss!!!!!

    • Kwame BushMan
      Kwame BushMan Year ago

      If you're black you have more to worry about than inflammation buddy

  • Tom Wilson
    Tom Wilson Year ago

    This was an amazing report! Thank you so much for this!

  • Glenn Shoemake
    Glenn Shoemake 6 months ago +8

    I joined the Air Force National Guard after 4 years active duty Army. I studied Telecommunications in the Air Force National Guard and they paid for my education 100%. Afterwards when I went back to my Air Force Guard unit I was able to get a job quite easily from being referred by my Air Force colleagues. 20 years later I'm making a great salary with no college degree but with tech certifications paid for by my employer. Working hard and being the best in your job is the best advice that I can give I order to get ahead.

  • Joan Huffman
    Joan Huffman Month ago

    What can be done if some in the lowest classes do things to prevent their fellows from advancing? I'm talking about those who assault or otherwise abuse their classmates or neighbors who do better in school.

  • Steve Talbot
    Steve Talbot Year ago +1

    I have wondered about creating a private program that would pair up rich white families with poor families of color, from different parts of the city, to work together on improving the poor family's economic status. The rich family could learn about the struggles of the poor, and the poor family could maybe be lifted out of poverty. Instead of relying on the government, or relying on traditional charities, individual families could make the difference. As it is now, I would guess that most rich families only think about themselves, but the poor need advocates.

  • M sharief
    M sharief Year ago +8

    How Intelligent is "The Economist" this time they nailed the caption, I had been always use to think why more than 99% can't earn more than their parents.

  • Timur Ibragimov
    Timur Ibragimov Month ago +1

    believe me i earn 10 times more than my parents did, everything depends on person himself

  • Ed530
    Ed530 9 months ago

    In the old days you got a degree in something and went to work for a company. Based on your skill set the company would value your abilities and you could advance yourself over a time period. Those days are gone. You are responsible for your own advancement. If you see no opportunities than you find another employer if you can. Start your own company.

  • Ryan Kelly
    Ryan Kelly Year ago +20

    People say “the system is broken”… the unfortunate TRUTH is - “the system was DESIGNED this way”

  • Zhuge Liange
    Zhuge Liange 10 months ago +1

    I absolutely agree the opportunities need to be there for folks to move up in society. At the same time, it also behooves those of the next generation to figure their way there. You learn alot in the journey. I make more than my parents combined, who were immigrants to this country with nothing, and I had to figure it all out to where I am today with a house, a tesla, 6 figure salary and can retire at 43, if I wanted to. I feel the generations of today don't take the time to figure it out. They're waiting for a hand to reach out to uplift them rather than getting up and getting it done.

  • Joseph RS Alexander
    Joseph RS Alexander 11 months ago +3

    When I hear "chance" it's frustrating to me. I live in Flushing queens - all the parents push the heck out of their kids and I can guarantee that the upward mobility between parents and students is massive. You get what you put in.

  • Nicolas Romero
    Nicolas Romero Year ago +5

    Amazing video, great ideas and incredible people, keep it up

  • TheFlowMind
    TheFlowMind 4 months ago +1

    I do earn the same amount as my mother did when she retired in 2015. She was a secretary in a law firm, I have a PhD and have been working as a researcher for the last 10 years. A bit depressing.

  • Govanni Delrio
    Govanni Delrio 6 months ago

    We've needed this research for a while now. Thank you.

  • molly
    molly 11 months ago

    I think that college was a really great start but the government and education system as a whole must change. I grew up in a part of London which was very divided, one of the highest gang crime figures in the country but also some of the most expensive houses on the other side of the area. One of the boys from my year was shot dead this year. He was kicked out during our gcses because he had some behavioural issues and got too many detentions. People like him who never did anything serious shouldn't be stopped getting an education they should receive help to get back on track.

  • seastorm1979
    seastorm1979 6 months ago

    Social inequality has always led to social upheavals and we should do something about it, that is, social inequality.

  • Daniel Syafiq
    Daniel Syafiq Year ago +3

    Simple,stop thinking about other thing that cannot effect ur life. Start working out, and start doing something better.
    In Malaysia or for someone not have wealthy from starting and nothing . Just be urself. and enjoy life. Life is short. Better do something well😇.
    You can find peace. Nobody gonna care about you , than urself. You must care about urself.

  • Ross Speirs
    Ross Speirs Year ago +11

    What if the main reason for these areas of the US having higher social mobility is the relative cost of things? Some of those states don’t have ridiculous housing/general living costs. Everyone is a bit more average unlike anyone trying to get ahead in Los Angeles or NYC where they can’t even afford a roof over your head. People earning 40k a year can easily afford homes in North Dakota, they can’t even afford to rent a 2 bedroom apartment in NYC.

    • spark300c
      spark300c 8 months ago

      now you know why people lament over factory jobs moving way because factories are build where land is cheap.

  • Let there be light #moknows

    I thoroughly enjoyed this production. Great storytelling.

  • Tamara Roberta Silva-Proll Dozo

    Problems about work after university education should have been more broadly included on the video.

  • Richard Peterson
    Richard Peterson 2 months ago +1

    Great video... Too many thoughts to share - just saying thanks for the work and content.

  • W J
    W J 6 months ago

    What is meant by "earn?" The better question is why someone else determines what you get for the work you've done (and who you'll have to give it up to during and after). What is their agenda?

  • Efrain Pardo
    Efrain Pardo Year ago +2

    Very true!! All the income is now concentrated in one racial and social segment. In the USA it is designed so it stays this way...