A guest contributor to The Guardian‘s “What I’m really thinking” column — apparently a female student — writes about the awkwardness of making social plans with friends who have a lot more money than she does:
“I’ll meet you there,” I say. “I’ve got something to do first.” That’s a lie. I just don’t want to take an hour-long taxi with you; the fare for that is outrageous. No, better to take public transport and spend an extra hour and half to save the money.
. . . Make no mistake, I am by no means poor, but by your standards I might as well be. When we go out for dinner, I scream inside at the cost. Often I don’t eat, saying I’ve had something already or I’m not hungry. Some people ask if I’m anorexic, because they never see me eat a proper meal outside school.
Iceberg ahead…and we’re steaming into it, full throttle
Of course, the socially awkward dilemmas confronting a younger person with less disposable cash than her friends are one thing, while deep inequalities in income and wealth are quite another. At least here in the U.S., I believe those inequalities have been, and continue to be, intentionally baked into our economic and political infrastructure. And they are becoming evident across the generations.
For example, here’s a piece of writer Sarah Kendzior’s insightful take on the “post-employment economy” that confronts many recent graduates:
A lawyer. A computer scientist. A military analyst. A teacher.
What do these people have in common? They are trained professionals who cannot find full-time jobs. Since 2008, they have been tenuously employed – working one-year contracts, consulting on the side, hustling to survive. They spent thousands on undergraduate and graduate training to avoid that hustle. They eschewed dreams – journalism, art, entertainment – for safer bets, only to discover that the safest bet is that your job will be contingent and disposable.
On the other end of the generational spectrum, you have late Boomers and early Gen Xers — a cohort that just missed out on the golden era of employer-provided pensions — hurdling into middle age and beyond with scant retirement savings. For example, a 2015 study by the non-profit National Institute on Retirement Security concluded, among other things:
The average working household has virtually no retirement savings. When all households are included— not just households with retirement accounts—the median retirement account balance is $2,500 for all working-age households and $14,500 for near-retirement households. Furthermore, 62 percent of working households age 55-64 have retirement savings less than one times their annual income, which is far below what they will need to maintain their standard of living in retirement.
My prediction? Without significant changes, we are going to see more and more instances of everyday inequality staring us straight in the face. For some, this will mean quietly bowing out of pricier social activities due to a money crunch. For others, it will mean trying to maintain appearances of “middle class” status while opting for a dinner of macaroni & cheese from a box. And these will be among the folks who actually have “choices.”
I haven’t yet said a word here about climate change.
Saving ourselves from a dystopian future
Yes, I know I’m sounding overwrought. But too many indicators are suggesting that (1) we have yet to pay the full price for our inequalities and excesses, especially during the past thirty-five or so years; and (2) we have not come to a reckoning about the mess we’ve made.
For those who can afford it, there are things that can be done on an individual level: Be generous. Give to good charities. Pick up the check. Leave a nice tip. To help someone dear who is in a financial bind, give, don’t loan, and do it without fanfare. Instead, be grateful that you can afford it. (I try to hold myself to these standards, while confessing that I sometimes fall short.)
More broadly, all of us, regardless of financial status, must grasp how our economic, political, and social systems have stoked massive inequality, nationally and globally, and then help to do something about it.
I’m not sure of all the answers, but I believe they will be a combination of changing how we live, building a more robust yet inclusive economy, and repairing our social safety net. We will have to be smarter and kinder in creating a society that places greater value on human dignity and the common good.