ipl-logo

The Pinch David Willetts

749 Words3 Pages
bulb-icon

Recommended: Compare baby boomers to millennials

In his book “The pinch: how the baby boomers took their children’s future - and why they should give it back”, David Willetts made references to various sources whilst highlighting the supposed disparities in economic wellbeing between the baby boom and younger generations. In this essay, I will be assessing whether Willetts has effectively made use of the source “Boreham and Lloyd (2007), ‘Asset Accumulation’, National Centre for Social Research/ International Longevity Centre – UK, table 5.1, p32” in developing his argument that the baby boom cohort were better off financially by having higher mean total net household assets, and whether this source supports his case or not.
Referring to the above named source, Willetts continues his argument …show more content…

This is important, since “Housing is the largest single asset held by UK households” . Hence as a result of this change, it meant that all age groups would have seen a considerable rise in the value of their household assets which would have enabled everyone to feel the ‘wealth effect’. As well as that, it shows that the younger cohort would have seen the fastest increase in the value of their total assets since 1995, allowing them to experience the ‘wealth effect’ significantly more than the other cohorts. Also during this time, it was found that inflation increased “to its highest rate in 17 months” , which could be seen as beneficial since property is a physical asset and hence inflation would not erode the value of this asset but instead individuals would find the value of their homes rising in accordance with inflation. Hence this further reflects on how all age groups would have found an increase the in the value of their mean total net household assets overall, with this being far more substantial for the younger

Show More
Related

Summary Of The Sandwich Generation By Kim Parker

401 Words | 2 Pages

While reading "The Sandwich Generation: Rising Financial Burdens for Middle-Aged Americans" by Kim Parker I found it interesting how she not only compared the financial stress of being in this generation, but also the emotional support that is needed in this situation as well. The financial aspect I found it interesting how 41 percent of sandwich generation say they live comfortable. I expected it to be less since having two support three generations in the house hold. In all the cases though it states a sandwich generation member that has a parent of 65 and at least one child over 18. This makes me think of all the sandwich generations that have more than one child over 18 plus younger ones.

Read More

Gen Y: Multigenerational Workforce

481 Words | 2 Pages

My current employer has multigenerational workforce from baby boomer to Gen Y. According to Shroer (n.d.) the baby boomer were born from 1945 to 1964, which would make the generation with 71 million people who were 20 years apart in age. The baby boomer life experience were completely different bonded by the Kennedy and Martin Luther King assassinations, the Civil Rights movements and the Vietnam War.

Read More

Similarities Between The Beatles And Scorpions

391 Words | 2 Pages

The older generation that called Baby Boomers has completely different view on life values than the current generation. The baby-boomers are people who were born in 50-70's; they are confident, independent, and self-reliant; they are people with high moral values. This generation grew up in an era of reform, of development economy, of great opportunities, in period of intensive development American culture, and in era of "The Beatles" and "Scorpions". They believe they can change the world.

Read More

Great Gatsby Dbq

2259 Words | 10 Pages

Sources reveal that “Median per capita income has been flat since about 2000, adjusted for inflation. All right, so is it better off getting a big house with a white picket fence? Few of us are doing that. Nearly five million people lost their homes in the Great Recession, and even more of us sobered up about the lengths we were willing to go -- or be tricked into going, in many predatory cases -- to hold that deed. Home-ownership rates are at their lowest since 1995.”

Read More

How Did Baby Boomers Affect The Economy

1098 Words | 5 Pages

(Generations in Canada) . This essay will explore how the baby boomers were responsible for changing the economy and consumer base by creating new markets, a new industry and workforce including post secondary education and work standards, and how they created and improved new services including education, healthcare and living space. The baby booms loved to consume, they became the biggest consumers of their time,

Read More

How Do Baby Boomers Affect The Nation

836 Words | 4 Pages

This generation has had powerful effects on social security, health care, social change, and music. Social security is at its biggest downfall that it has ever been in because of the boomers. Since baby boomers are so large in population, they have a major impact on social security when they retire. Now and through the upcoming years, most baby boomers will be retiring and this will drain social security completely and cause future retirees from other generations to consider other ways to finance their retirement. The boomers also believe that they can expect higher incomes and lower poverty rates than other citizens surrounding them because of supplemental security.

Read More

Why Is Technology Important In Ww1

525 Words | 3 Pages

World War 1 was the first major global conflict, resulting in over 40 million casualties. It started on the 1st of August, 1914 and was expected to go for around 6 months. However the war lasted four years and three months, ending on the 11th of November 1918. The majority of the battle was fought on the western front which was located near the north-east border of France with Germany. During this conflict, the Allied Powers fought against the Central Powers.

Read More

Social Security In The 1800s

721 Words | 3 Pages

Financial security is an aspiration for all families, wanting to secure their lives and not have to worry about the monetary aspects of the world. To have an economic safeguard, such as the Social Security Act, is crucial if someone is unable to work due to illness, age, sudden unemployment or when a provider passes away in order to provide some sort of income in times of need. This demand for insurance truly established itself sometime in the Industrial Revolution, as the United States began to become more forward thinking. However, it did not come to pass due to the short life expectancy in the 1800’s, around thirty-eight years old, and the lack of elderly individuals. As time went on, heading into the 1900’s, life expectancy began to rise and thus, the need for social security followed suit.

Read More

How Did The Baby Boom Change Society

1220 Words | 5 Pages

"And in the end it 's not the years in your life that count. It 's the life in your years. "(Abraham Lincoln) The words of Abraham Lincoln describe the accomplishments by the Baby Boomers perfectly and implies that it’s the accomplishments in life that matter the most.

Read More

The Baby Boom Era

546 Words | 3 Pages

Children of post war America are the most effective demographic gathering ever. Organizations flourishes or comes up short in light of their capacity to keep pace with the preferences and aversions of this financial powerhouse known as the people born after WW2. At 76 million in number, boomers have the impact to control the commercial center and ensure they keep a spot set only for them as the biggest era. Because of its substantial size, the Baby Boom era has significantly affected society, business, and the economy. The effect of the era has been felt in every aspect of buyer spending, from expanded offers of child items when they were youthful; to rising interest for houses as they set up their own particular family units; to development in retirement funds vehicles as they get ready for their senior years.

Read More

Pros And Cons Of Affordable Housing

1222 Words | 5 Pages

Also, home ownership increases the amount of care people have upon the property owned (Gordon 2004). However, one disadvatantage that affordable housing poses is that more and more people are being priced out of home ownership (Shelter 2015). This means that the rent of house increases and more people are competing for every single

Read More

Jonalyn Paguigan's Lastest Real Estate Trends

926 Words | 4 Pages

Housing steps off the roller coaster Housing seems to be putting the excesses of the bubble and the ensuing collapse behind it. The trend in residential real estate, according to interviewees, looks to be returning to the classic principles of supply and demand. As this major segment of the economy returns to textbook fundamentals, confidence in the residential sector should continue to

Read More

Argumentative Essay On Affordable Housing

945 Words | 4 Pages

The National Association of Home Builders estimates that building 100 new affordable housing for households which have low income, contributes to the creation of 80 jobs from the direct and collateral effects of construction and 42 jobs supported by the induced effects of the spending (Wardrip, Williams & Hague, 2011). By building affordable housing, people can be in a sizeable and sustainable condition, more opportunities to increase the character of life in order to avoid the unemployment, and especially reduce

Read More

Baby Boomers Thesis

847 Words | 4 Pages

Final Thesis The Baby Boomer era has decreased since War War 1, leaving mostly the government and Canadians distress about how this event will impact societies economy and the debts our generation has to pay. Supporting argument #1 With the peak in births during the Baby Boomer era, this has resulted in financial instability within society. Supporting argument #2 Society as a whole is experience difficulties managing the effects of the aging Baby Boomers. Introduction During the 1947 to 1965, about 76.4 million children were born, this phenomenon was eventually labeled as the Baby Boom (Canadian Encyclopedia).

Read More

Joel Stein's The New Greatest Generation

599 Words | 3 Pages

But wait were not the baby boomers the generation of “the pre-AIDS years of free love, the free education, the happy dilettantish flirtations with radicalism,….. the big cars, the enduring sense of smugness”(Hawking). Furthermore, now they have the nerve to accuse their kids for their repercussions. The millenials are the general population who having to experience the “hangover from the baby boomers party”(Hawking). Millenials are drowning in college debt and having to pay off liabilities that the baby boomers generation created.

Read More

More about The Pinch David Willetts

Related Topics

Open Document