When I was 22, there were no jobs for young people, either. It really sucked, and believe me, I feel bad about the troubles young people are going through now. All I can say is that I am committed to making the world a better place where young people won’t have these troubles.
However the issue of the age of people who receive education is not an issue of social justice. That’s about as laughable as you can get and I am surprised that @SmashTheState, who normally is pretty logical about his thinking, would say such a thing.
Education is pretty much infinitely expandable at a fairly low cost. You can almost always fit in an extra person in a class. If need be, you do have to spend more money building new classrooms, but universities are always happy to have that problem. Old and young people simply are not competing for classroom space.
The main difference, most likely, is that old people pay out of pocket for education, and young people have to borrow or get grants. Any young person who doesn’t believe they will be able to pay back their loans, shouldn’t go to school. Anyone who doesn’t think they will be able to pay back their loans just isn’t looking at this clearly.
The economy will eventually expand, and salaries will go up and up, and when that happens, young people will get jobs and they will have an easier and easier time paying off student loans. I’m not sure where the entitlement philosophy really is, though. It seems to me that young people who think their education should be free have a pretty big sense of entitlement. I hope there aren’t many of them.
I know when I was 22, I had a huge sense of entitlement. I thought society owed me a job. I had a good education and I was smart, but I didn’t end up working for some big salary job. Instead I ended up doing odd jobs for a while, and then I supported myself, in New York City, going door to door, selling ideas. From 1979 until 1984, I never made more than $7000. I don’t think that took me out of poverty. However, I lived in a pretty nice house in a nice part of Brooklyn because I had three housemates who all made between 10 and 12K. And I was the one with the car, which I had because I had to take care of the car at work that we used to drive us to the burbs to go canvassing.
People do what they have to, I think, to afford to live the way they want to. Or they change their wants to match their incomes. There are a lot of whiners in the US, with a huge sense of entitlement. Perhaps it is the way we bring our children up, because I was definitely one back in that time. Now I see that the promise works. If you work—and you don’t even have to work hard—you will slowly improve your lot. If you save money instead of spending it, you’ll improve your situation pretty quickly.
Even if you have no job. People find things to do—ways to make money. There is an informal economy. People move in with others. Share resources. Trade skills. Whatever.
Turning 50 is fine. I’ve worked for 30 years now, and I see the payoff. I have significant savings. My wife has retired instead of working in a miserable job. Also she is leaving a place open for younger people. Not that they can find any with the skills needed to do her work. It would probably take three young people. But all the better. More work for more people, except right now the company prefers to drive the remaining workers to heart attacks my making them do everything with three people that they used to do with six people. Weird.