“Many companies that are part of the on-demand economy have adopted business models that unfairly pass the costs of doing business onto its workers.”
It’s graduation season. Time for lofty speeches about the bright future, punctuated with thanks for the sacrifices parents have made to help their children thrive. What better time of year to be thinking about the economy our children are entering?
From the post-World War II period to the late 1970s, our parents and grandparents enjoyed an economy in which wages grew in tandem with productivity, and they did not need a college degree to have a family-sustaining job. Rising wages, even at the lower end, enabled many families to save. Many bought houses; they went to college at little or no cost. Employer-provided health care was the norm in mid-size and large businesses. About half of workers had defined benefit pensions. Many enjoyed union representation. To be sure, this rosy picture didn’t apply to everyone, but it fits more people than ever before.
Today’s high school and college graduates…
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