Quotulatiousness

July 11, 2012

Obama’s tax proposal being misreported by all major media outlets

Filed under: Government, Media, USA — Tags: , , , , — Nicholas @ 09:48

How so? Dan Amira explains:

Obama is not proposing that families making up to $250,000 a year keep their tax cuts while families making more than that don’t. He’s proposing that every family keep their tax cuts on their first $250,000 of taxable income (which is not the same as “income” or “earnings,” by the way).

That includes families with taxable income of $260,000, $1 million, $5 billion, $3 trillion, or whatever Jay-Z and Beyonce make in a year. Everyone would continue to pay a lower tax rate on their first $250,000 of taxable income under Obama’s plan. To report that Obama only wants to maintain tax cuts for families making less than $250,000 is simply false.

[. . .]

Normally, a president would want to publicize that he’s trying to cut taxes for everyone in the country. But Obama actually has an incentive this time to downplay the number of Americans who would benefit from his tax plan. His proposal is, at its heart, a political maneuver meant to force Mitt Romney to defend tax cuts for the wealthy. It’s more effective, then, for it to be seen as a cut solely for the middle class. The reality is that Obama’s proposal would also keep Warren Buffett’s taxes lower, if only a little bit.

H/T to Iowahawk for the link.

June 27, 2012

John Kay on the evils of rent-seeking

Filed under: Economics, Germany, Government, Politics — Tags: , , , , — Nicholas @ 08:08

Broadly speaking, wealth can be accumulated in two distinctly different ways. It can be earned through hard work, innovation, and competition, or it can be extracted from the public by use of coercive methods, corruption, and misappropriation:

Whatever the true extent of the Mubarak family fortune, it stands in stark contrast to the lot of most Egyptians. Gross domestic product per capita in Egypt is a mere $2,500. In western Europe and North America GDP per capita is about $40,000, yet the capacities of Egypt’s intellectual and entrepreneurial elite are the rival of any state in the world.

The real damage imposed by men such as Mr Mubarak is not the money they might have stolen. The tragedy is that the system that enables them to steal it destroys opportunities for others to generate wealth — not only for themselves but for the whole population.

The price of requiring a potential Mark Zuckerberg or Mr Gates to pay a $100 bribe to each of 10 officials before he can establish his new business is not the $1,000 creamed off by corrupt bureaucrats. It is the far greater one of lost businesses that never came into being because the licensing process that makes such corruption possible was not navigated. In the meantime, people who might be successful entrepreneurs choose instead to seek political power. If business is endlessly frustrating and politics endlessly rewarding, the career choice for able and enterprising people is obvious.

Institutions are the key influence on economic prosperity — West Germany did not outperform East Germany because of its excellent monetary policies. And, as Daron Acemoglou and James Robinson point out in their book, Why Nations Fail, a critical feature of successful economic institutions is that they limit the scope for what these authors call “extractive activity” — others have described it as predation or rent-seeking — which appropriates the wealth created by other people.

June 22, 2012

Greek government getting serious about debt issues: selling off government land

Filed under: Economics, Europe, Government, Greece, Railways — Tags: , , — Nicholas @ 10:18

It’s surprising it’s taken this long for the Greek government to consider selling off excess government-owned land as a way to address some of their debt issues:

There’s little that shouts “seriously rich” as much as a little island in the sun to call your own. For Sir Richard Branson it is Neckar in the Caribbean, the billionaire Barclay brothers prefer Brecqhou in the Channel Islands, while Aristotle Onassis married Jackie Kennedy on Skorpios, his Greek hideway.

Now Greece is making it easier for the rich and famous to fulfill their dreams by preparing to sell, or offering long-term leases on, some of its 6,000 sunkissed islands in a desperate attempt to repay its mountainous debts.

The Guardian has learned that an area in Mykonos, one of Greece’s top tourist destinations, is one of the sites for sale. The area is one-third owned by the government, which is looking for a buyer willing to inject capital and develop a luxury tourism complex, according to a source close to the negotiations.

However, if you’re in the market for a lovely little Greek island, you should also consider that land costs are going to be only a small part of your investment:

Only 227 Greek islands are populated and the decision to press ahead with potential sales has also been driven by the inability of the state to develop basic infrastructure, or police most of its islands. The hope is that the sale or long-term lease of some islands will attract investment that will generate jobs and taxable income.

Also on the block for sale are other government monopolies:

In its battle to raise funds, the country is also planning to sell its rail and water companies. Chinese investors are understood to be interested in the Greek train system, as they already control some of the ports. In a deal announced earlier this month, the Greek government also agreed to export olive oil to China.

Update: Ah, I didn’t notice that the article had originally been published in 2010, hence my expressed surprise that it had taken so long for these measures to be considered.

June 9, 2012

QotD: Counteracting those irritating “nudgers”

Filed under: Economics, Education, Liberty, Media, Quotations — Tags: , , — Nicholas @ 00:09

In the wake of Mayor Bloomberg’s proposes big soda ban, I have some suggestions for paternalistic nudges for economists who advocate such paternalism. One idea is when they go to a restaurant, by default they should be seated at the table that places them in the most proximity to people near the median income level. Or when they turn on their TVs, have them by default turn to awful TV shows popular with the median household, like America’s Got Talent, Dancing with the Stars, or some poorly written show about cops. Of course they will need a nudge so that when they rent an apartment or house it comes by default with a TV and cable. Perhaps if we want to escalate from nudge to shove, we could have them signed up to teach one class a semester at a local community college or technical school, so they get exposure to students much closer to the median ability and future income level than they’ll find at the top departments they normally teach at. They can opt out of this, of course, but have them enrolled to teach as a default upon completing their doctorates.

You see, paternalists clearly have a problem with reasoning from their own preferences, and so giving them exposure to the median consumer might help them learn valuable lessons. Paternalist economists, it seems, simply cannot imagine how a “nudge” or a “shove” like buying only 16 ounce sodas or smaller would be any kind of inconvenience to someone. What they don’t understand is that as Ivy League economists with IQs north of 140 their preferences tend to be very far from the median consumer’s, so it should be no surprise that they can’t imagine it being an inconvenience. After all, they also probably can’t imagine wanting to drink a lot of soda in the first place. In the same way, the median consumer probably could not imagine letting their kid not eat birthday cake. So from the start they should be aware that their imaginations and preferences aren’t useful guides

Adam Ozimek, “Nudges for Paternalist Economists”, Forbes, 2012-06-05

June 1, 2012

QotD: Debunking the notion that today’s students face “unprecedented” challenges

Filed under: Economics, Education, History, Liberty, Quotations — Tags: , , — Nicholas @ 00:08

Far from being penalized, this generation may be the most privileged ever. Every generation lives through challenges. Our grandparents or great-grandparents lived in a society of gross social inequality and endured a world war that consumed 35 million lives. Their children came of age in the Great Depression, followed by six years of war in which another 60 million died. Their own children, the Baby Boomers, were without question a pampered generation, yet even they lived through long stretches of high unemployment and deep economic uncertainty. The oil shock of the 1970s ushered in a decade of stagflation — high inflation accompanied by stagnant growth and high unemployment — that made decent jobs no easier to nail down than they are today. The 20 years since the end of the 1980s has been a cycle of boom and bust that has seen millions of people lose homes, careers and life savings they spent decades building, often watching them vanish overnight through circumstances far beyond their control.

The notion that there was a time when anyone could coast through high school and land a nice secure career with minimal effort is sheer fantasy. Yes, a university degree carried more weight, because there were fewer of them, but that same scarcity limited the advantage to a relatively small group. The majority scratched out positions in competition with one another just as they do today. There was never, in my recollection, a bull market in sociologists, psych specialists or arts majors. A BA didn’t help you sell anything, build anything or invent anything. Entrepreneurs and self-starters never needed a university degree, and they don’t now.

[. . .]

If the 1960s and 1970s was a golden age of easy work and high pay, I missed it. If people skipped from school directly into secure jobs, happy families and a home of their own, it’s news to me. The challenges faced by youth are daunting, but no more daunting than they ever were. If Montreal’s graduates have been deprived of anything, it would appear to be lessons in history. Because they seem to have no clue how much tougher they’d have had it in almost any earlier generation they would care to choose.

Kelly McParland, “Quebec students are big on delusion, short on history”, National Post, 2012-05-31

May 22, 2012

Lucasfilm fires Parthian shot in “retreat”

Filed under: Media, Politics, USA — Tags: , , , , — Nicholas @ 10:14

In the New York Times, Norimitsu Onishi reports on recent developments (if you’ll pardon the expression) in Marin County, California:

In 1978, a year after “Star Wars” was released, George Lucas began building his movie production company far from Hollywood, in the quiet hills and valley of Marin County here just north of San Francisco. Starting with Skywalker Ranch, the various pieces of Lucasfilm came together over the decades behind the large trees on his 6,100-acre property, invisible from the single two-lane road that snakes through the area.

And even as his fame grew, Mr. Lucas earned his neighbors’ respect through his discretion. Marin, one of America’s richest counties, liked it that way.

But after spending years and millions of dollars, Mr. Lucas abruptly canceled plans recently for the third, and most likely last, major expansion, citing community opposition. An emotional statement posted online said Lucasfilm would build instead in a place “that sees us as a creative asset, not as an evil empire.”

If the announcement took Marin by surprise, it was nothing compared with what came next. Mr. Lucas said he would sell the land to a developer to bring “low income housing” here.

“It’s inciting class warfare,” said Carolyn Lenert, head of the North San Rafael Coalition of Residents.

It’s lovely to see NIMBY-ism spiked on its own hypocritical underpinnings. Just the threat of allowing “the other” into their lovely 1% outpost will be enough to rattle cages and upset the (self-nominated) “great and the good”:

Whatever Mr. Lucas’s intentions, his announcement has unsettled a county whose famously liberal politics often sits uncomfortably with the issue of low-cost housing and where battles have been fought over such construction before. His proposal has pitted neighbor against neighbor, who, after failed peacemaking efforts over local artisanal cheese and wine, traded accusations in the local newspaper.

The staunchest opponents of Lucasfilm’s expansion are now being accused of driving away the filmmaker and opening the door to a low-income housing development. That has created an atmosphere that one opponent, who asked not to be identified, saying she feared for her safety, described as “sheer terror” and likened to “Syria.”

Update: Jesse Walker comments at Hit and Run:

Lucas hasn’t always been a force for good in land-rights fights: His same statement that complains about the barriers to building on his property also complains that he wasn’t able to put up similar barriers himself when a developer built a neighborhood nearby. But that’s forgiven now. You have to appreciate a move that will simultaneously achieve four worthy goals: making housing more affordable for the poor, showing up the hypocrisies of the local limousine liberals, taking revenge (whether or not Lucas wants to call it that) on the people who restricted his property rights, and setting off a reaction that promises to be far more entertaining than any of the director’s recent movies.

May 21, 2012

Will privacy be on one of the things that differentiates the rich from the rest?

Filed under: Britain, Bureaucracy, Government, Media — Tags: , , , , — Nicholas @ 09:23

Brendan O’Neill in the Telegraph:

Is privacy being turned into a privilege that only the moneyed and the well-connected may enjoy? Two striking stories in the news last week suggest that it is.

In the first story, it was reported that activists and hacks are heaping further pressure on Mark Zuckerberg to improve the privacy settings on Facebook, so that they might update their statuses and post photos of their social shenanigans without having the world and its mother peering over their shoulders. In the second story, we were told that social workers, backed by much of the media, are calling on the prime minister to get rid of “red tape” so that they might more easily interfere in — I’m sorry, intervene in — so-called problem families. There are a lot of damaged families out there, the social workers hinted, and thus we need to rip up some of the rules governing when it is and isn’t okay to stick our snouts into their business.

That these two stories could appear in the same week, and not be considered contradictory, suggests we have a pretty screwed-up attitude to privacy today. Indeed, sometimes the very same members of the political and media classes who believe that their private lives must remain absolutely private will think it is perfectly logical that other people’s private lives — the lives of Them — should be thrown open to state snooping.

May 11, 2012

Sneering at both the rich and the poor: the modern “equality” campaigners

Filed under: Economics, Media, Politics — Tags: , , , , , — Nicholas @ 09:16

Daniel Ben-Ami on the equal-opportunity snobs in the so-called “equality” movement:

It is easy to make the mistake of assuming there is a big drive towards equality in the world today. Politicians, pundits and even billionaire financiers rail against the dangers of inequality, excess and greed. A handful of Occupy protesters claiming to represent the ‘99 per cent’ against the super-rich ‘one per cent’ are widely lauded in influential circles. Parallel campaigns slate the wealthy for failing to pay their fair share of tax. Officially sanctioned campaigns promote fairness, social justice, social equality, equal access to education and the like.

From this false premise it appears to follow that radical politics is alive and well. If equality was historically a core principle of the left then, so it is assumed, the current discussion must be enlightened and humanistic. Those who oppose the plethora of apparently pro-equality initiatives are therefore cast as reactionary souls who are probably in the pay of giant corporations.

[. . .]

In contrast, the discussion in recent years has shifted decisively against the idea of economic progress and towards a deep suspicion, even hatred, of humanity. It promotes initiatives to counter the dangers of social fragmentation in an unequal society. Indeed, this fear of a disintegrating society can be seen as the organising principle behind a wide range of measures to regulate supposedly dysfunctional behaviour. These range across all areas of personal life, including childrearing, drinking alcohol, eating, sex and smoking. Such initiatives assume that public behaviour must be subject to strict regulation or it could fragment an already broken society.

A distinct feature of the current discussion is that the rich are also seen as posing a threat to social cohesion. Their greed is viewed as generating unrealistic expectations among ordinary people. In this conception, inequality leads to status competition in which everyone competes for ever-more lavish consumer products. A culture of excess is seen to be undermining trust and a sense of community.

The contemporary consensus thus marries the fear of social fragmentation with anxiety about economic growth. It insists that the wealthy must learn to behave responsibly by maintaining a modest public face. It also follows that prosperity must be curbed. This is on top of fears about the damage that economic expansion is alleged to do to the environment.

This drive to curb inequality is informed by what could be called the outlook of the anxious middle. It is middle class in the literal sense of feeling itself being torn between the rich on one side and ordinary people on the other. Its aim is to curb what it regards as excesses at both the top and bottom of society. It sees itself as living in a nightmare world being ripped apart by greedy bankers at one extreme and ‘trailer trash’ at the other.

April 27, 2012

Social polarization in America

Filed under: Economics, Education, Media, USA — Tags: , , , — Nicholas @ 09:27

Frank Furedi reviews the latest book by Charles Murray, Coming Apart: The State of White America, 1960-2010.

The nineteenth-century British politician Benjamin Disraeli once characterised ‘the rich and the poor’ as ‘two nations between whom there is no intercourse and no sympathy; who are as ignorant of each other’s habits, thoughts and feelings, as if they were dwellers in different zones, or inhabitants of different planets’. It is a description that applies uncannily to contemporary American society.

I recall the first time I travelled to America — back in 1967 — having a discussion with my then girlfriend about how difficult it was to distinguish between the well-off and the not so well-off people on the streets of the places we visited. That was then. When I visit these days, I am struck by the contrast in appearance between rich and poor white citizens. They now look so different. They eat different food; they pursue different cultural interests; they speak differently; and, most important of all, they communicate values and attitudes that are often strikingly at odds with one another. It is all very redolent of the kind of social and cultural polarisation so prevalent during the nineteenth century.

Coming Apart: The State of White America, 1960-2010, Charles Murray’s exploration of the socioeconomic segregation that divides the US, is a valiant attempt to give a coherent account of this polarisation. What is important about Murray’s discussion of the intensification of the socioeconomic segregation of America is that it shows not simply the economic but also the cultural drivers of this process. So differences in income and living standards, and growing economic inequality, are also paralleled by a divergence in ‘core behaviours and values’. For example, Murray focuses on divergent attitudes towards marriage, industriousness, honesty and religion to demonstrate the disturbing fact that upper-class and lower-class Americans inhabit very different moral communities. His thesis is that this polarisation of cultural attitudes threatens the coherence of society and puts the American project at risk.

April 22, 2012

Earth Day: 42 years of crying “wolf”

Peter Foster piles on the scorn for the 42nd anniversary of Earth Day:

For more than 40 years, Earth Day has both reflected genuine environmental concern and mirrored the UN’s attempted eco power grab. Sunday’s Earth Day comes two months ahead of the vast, but significantly brief, UN Rio+20 conference. Both are pale reflections of their original radical aspirations. Earth Day is still celebrated, but 42 years of crying wolf have inevitably had an effect. The event has also been corporatized, greenwashed and taken over by such announcements as that of the “50 sexiest environmentalists.” Rio+20 will represent the graveyard of aspirations for all prospective — and inevitably less sexy — Captains of Spaceship Earth, Global Saviours, and High Priests of Gaia.

That Earth Day has gone Happy Face, and Rio+20 will be a farce, reflects the fact that their apocalyptic assumptions have turned out to be so wrong. In Canada, as in other developed countries, we can celebrate significant improvements in air quality, and success in coping with industrial impacts on water. The Great Lakes have been cleaned up, forest cover has been maintained, and the amount of “protected” land doubled. The use of toxic chemicals in industrial production has been slashed. Some credit must obviously go to activism, but the more radical end of the movement has always had a lot more than just the environment in mind.

[. . .]

That misunderstandings and misrepresentations were at the root of radical environmental thinking was exemplifed by an “equation-of-doom” hatched in the 1970s by two prominent radicals, Paul Ehrlich and John Holdren (President Obama’s current senior science and technology advisor). The equation was I=P x A x T: Human Impact (I) equals Population (P) times Affluence (A) times Technology (T). The formula was vague, but it clearly suggested that population, wealth and technology were all “bad” for Mother Earth.

Such thinking was based on a primitive, static, zero-sum view of economic development and a demonization of business. Since resources were “finite,” all development was claimed by definition to be “unsustainable.” Advancing technology merely chewed up resources faster and accelerated us down the road to exhaustion. All this came with biblical overtones. On the first Earth Day, Prof. Ehrlich thundered that “In ten years all important animal life in the sea will be extinct. Large areas of coastline will have to be evacuated because of the stench of dead fish.”

April 15, 2012

Increasing taxes on the “1%” won’t close the gap — and might make it worse

Filed under: Cancon, Economics, Government — Tags: , , , — Nicholas @ 11:13

Joseph Brean in the National Post:

That the rich should contribute more than their current share to the common good is a proposal with popularity. From Paris and London to Nova Scotia and Alberta, “tax the rich” has become a dominant theme in budget debates and elections around the world.

In Ontario, for example, NDP leader Andrea Horwath’s proposal to create a new tax bracket for people who make more than half-a-million dollars a year, illustrates the persistent attraction of such schemes for governments in deficit.

“The issue really is one of perceived fairness,” said Robin Boadway, a taxation expert and professor of economics at Queen’s University, who notes that the income of the highest earners has been increasing much faster than the middle and lower ranks. Taxation, to a great degree, relies on the goodwill and trust of citizens, he said, and inequality in tax codes can violate that trust.

Governments acting like Robin Hood, however, have tended to provoke unforeseen problems, most recently in Britain, where an effort to tax the rich ended up — quite literally — costing the government deeply.

It always seems to be a surprise when people respond to incentives in creative ways … and this applies especially to creative ways to avoid paying higher taxes. People will adjust their behaviour to minimize their tax burden — both legally and not-as-legally. This is after all one of the reasons that there are so many tax provisions: the government wants to encourage certain kinds of behaviour (and so gives a tax credit) and discourage other kinds of behaviour (and so levies a specific tax on it). Flexibility occurs on both the tax-levying and tax-paying sides of the fence.

One of the complaints of middle-class taxpayers is that there are few mechanisms they can use to legally reduce their tax burden, while the wealthy have lots of ways to do this. This isn’t going to change if the government increases the top rate of tax — in fact it will encourage more creative use of the tax-lowering provisions of the law (and lawyers and accountants will benefit by helping their wealthy clients ot take advantage of those provisions).

April 11, 2012

QotD: The silly claims about “capitalism in crisis”

Filed under: Economics, History, Media, Quotations — Tags: , , , — Nicholas @ 00:08

Yes, times are tougher than they otherwise could be; however, to claim that the bumps in the road over the last few years show that “capitalism is in crisis” is absurd.

[. . .]

Even with the a few recessions, Real per-capita Gross Domestic Product is a lot higher than it was in 1960, 1970, 1980, 1990, or 2000. The truly unique fact about the world as it has changed in the last few centuries is that, as a number of economic historians have emphasized, we live in a world where economic growth is taken to be the norm. […]

Indeed, as the economist Joseph Schumpeter pointed out long ago, capitalism has given us the time and energy to criticize capitalism. People content themselves by being outraged at working conditions in Foxconn plants in China. However, it is the economic growth we have achieved in the western world that allows us the comfortable working conditions from which we express horror at working conditions elsewhere in the world. Further, not all the workers are greeting the reformers as saviors (HT: Doug Stuart). If people are willing to trade off longer working hours for higher incomes, I don’t see how it’s my right to stop them.

[. . .] Donald J. Boudreaux points out how we have to be very careful with income data if we are going to get an accurate picture of trends in standards of living.

If we’re going to talk about “stagnation” we also have to be very clear about precisely what we mean. Consider the near-ubiquity of the iconic gizmo of the early 21st century and its technological cousin: the smart phone and social media. My Forbes.com colleague Erik Kain reported in February that “472 million smartphones were sold worldwide in 2011.” In a world of 7 billion people, the top 1% would be 70 million people. If all the gains really went to them, that would be about six and a half smartphones each for the members of the world’s Top 1%. I’m pretty sure that isn’t what’s happening.

Art Carden, “It’s the Final Crisis of Capitalism, Charlie Brown!”, Forbes, 2012-04-10

March 28, 2012

The “Greatest Generation”, then the “Luckiest Generation”, and now the bill comes due

Filed under: Economics, Government, Politics — Tags: , , , , , — Nicholas @ 10:01

John Kay on the luck of the Baby Boomers:

I belong to a lucky generation: too young to have experienced the Depression, or the second world war, or postwar austerity. The first political figure I recognised was Harold Macmillan, who told voters they had never had it so good.

His statement was true, if foolish, and my contemporaries and I benefited. The government paid us to go to university. We took for granted we would choose between attractive job offers. I was quickly appointed to a post from which it was practically impossible to be fired and which offered a pension scheme with generous, index-linked benefits. I bought a flat with a mortgage whose value was wiped out by inflation. By the time I was paying a higher rate of income tax, the level had been cut from 83 per cent to 40 per cent. My life expectancy is several years longer than my father’s, and I have already considerably exceeded the age at which his father died.

If young people today want to attend university, they will have to pay for tuition and borrow to meet living expenses. When they graduate, they face a much more competitive job market. Few careers will offer the job security once characteristic of middle-class employment. Defined benefit schemes have almost disappeared from the private sector, and public sector pensions are to be substantially less generous. Tax rates must rise, partly to pay for the care and medical treatment I will demand as senility advances. The only financial consolation for the next generation is the windfall when we leave them our houses.

The first half of the baby boom generation certainly were the luckiest cohort in human history. The second half of that generation didn’t do quite as well, the Gen X kids and the Millennials are going to be stuck with most of the bill for all the government-provided goodies that the early boomers have arranged for themselves. Pensions and healthcare, in particular, will have to be reined in for younger workers … just as the bulk of the early boomers have squeezed all the juice out of the system.

Aside from retroactively cutting back the benefits to baby boomers, the only other way to mitigate the financial burden is growth, but most governments in the west are pursuing goals that will not help and in many cases will retard economic growth.

March 23, 2012

Millennial generation not following the script

Filed under: Economics, History, Liberty, USA — Tags: , , , , — Nicholas @ 11:57

They’ve been subjected to more “sharing/caring” and “we are the world” propaganda than any group of youngsters since the Young Pioneers and the Hitler Youth, yet they appear to be shrugging off the programming in double-quick time:

Young Amer­i­cans care less and less about the the en­vi­ron­ment, pol­i­tics, and the world around them in gen­er­al, a study has found; even the idea of seek­ing a mean­ing­ful life is out of fash­ion.

In­stead, mon­ey, im­age and fame are the idols of our time.

“Pop­u­lar views of the mil­len­ni­al genera­t­ion, born in the 1980s and 1990s, as more car­ing, com­mun­ity-oriented and pol­i­tic­ally en­gaged than pre­vi­ous genera­t­ions are largely in­cor­rect, par­tic­u­larly when com­pared to ba­by boomers and Genera­t­ion X at the same age,” said the stu­dy’s lead au­thor, Jean Twenge, a psy­chol­o­gist at San Die­go State Uni­vers­ity and au­thor of the book Genera­t­ion Me. “These da­ta show that re­cent genera­t­ions are less likely to em­brace com­mun­ity mind­ed­ness and are fo­cus­ing more on mon­ey, im­age and fame.”

[. . .]

The wish to save the en­vi­ron­ment, an ar­ea of par­tic­u­lar con­cern to mil­len­ni­als, showed some of the larg­est de­clines, with three times as many mil­len­ni­als as ba­by boomers at the same age say­ing they made no per­son­al ef­fort to help the en­vi­ron­ment. Fif­ty-one per­cent of mil­len­ni­als said they made an ef­fort to cut down on elec­tri­city use to save en­er­gy, com­pared to 68 per­cent of boomers in the 1970s.

[. . .]

In the Amer­i­can Fresh­man sur­vey, the pro­por­tion of stu­dents who said be­ing wealthy was very im­por­tant to them rose from 45 per­cent for ba­by boomers (sur­veyed be­tween 1966 and 1978) to 70 per­cent for Genera­t­ion Xers (sur­veyed be­tween 1979 and 1999) and 75 per­cent for mil­len­ni­als (sur­veyed be­tween 2000 and 2009).

The frac­tion who said it was im­por­tant to keep up to date with pol­i­tics dropped, from 50 per­cent for boomers to 39 per­cent for Genera­t­ion Xers and 35 per­cent for mil­len­ni­als. “Be­com­ing in­volved in pro­grams to clean up the en­vi­ron­ment” fell from 33 per­cent for boomers to 20 per­cent for mil­len­ni­als. “De­vel­op­ing a mean­ing­ful phi­los­o­phy of life” de­creased the most across genera­t­ions, from 73 per­cent for boomers to 45 per­cent for mil­len­ni­als.

March 18, 2012

Reason.tv: Why The Future Is Better Than You Think

Filed under: Economics, Health, History, Liberty, Technology — Tags: , , — Nicholas @ 14:06

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