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Millennials are killing numerous industries

We lived on goddamn toast for five years!
But it was like $12 avocado toast!

Even at $12.00 a plate, it still astounds me that avocado toast is what passes as a luxury item these days.

I mean, I'd understand the criticism if Millennials were splurging on Chateaubriand and Quail in Rose Petal Sauce and then complaining they can't afford a down payment on a house, but avocado toast? That barely counts as 'out of the ordinary', and only in the Midwest.
 
We lived on goddamn toast for five years!
But it was like $12 avocado toast!

And teaching used to be a middle class job.

Who says that it isn't?

It really depends.

Way back in the Stone Age, when I was in high school, teaching high school was such a low paying gig that my high school math teacher (the one who didn't coach anything) worked along side his students stocking grocery stores in the summers, to make ends meet. Which was doubly sad when you know any actual teachers and know that teachers work a lot during the summer and out side of classroom hours. Now in many/most states, teachers earn better than that but nobody ever got rich for being a teacher at a public school.

Adjunct instructors at universities are paid extremely poorly. Extremely. And more and more, universities are trying to rely only on adjuncts whenever possible.
 
Millennials are to blame for sluggish economy: Raymond James report
  • The U.S. personal savings rate is rising, and it’s holding back the economy, says Raymond James.
  • “Savings rates are now higher leading to excess supply seemingly everywhere in the economy,” analyst Tavis McCourt wrote in a note to clients Thursday.
  • He believes the rising rate is driven by millennials saving more following the financial crisis.

Millennials — the selfie obsessed, avocado toast-loving generation — might be behind slower economic growth, according to a research note last week from Raymond James. This new generation, scarred by the financial crisis, is saving more than the free-spending boomers did before them, and it’s causing an economic imbalance.

According to data from the St. Louis Federal Reserve, the current U.S. personal savings rate, defined as income minus spending, is 8.1% as of August. By comparison, in 1996 the rate was 5.7%.
Saving is a case of the  tragedy of the commons, where individual benefit gives shared loss. This form of it is the  paradox of thrift, where if everybody saves everything, economic activity grinds to a halt. But if it is necessary to spend for the good of the economy, then it should not be the ones least able to spend who must do so.

CNBC on Twitter: "There's a theory that stingy millennials are to blame for the sluggish economy https://t.co/pLRsc5aSVe" / Twitter
then
Alexandria Ocasio-Cortez on Twitter: "Not stingy. Broke.
And low wages, poor work standards, high cost of living, & a runaway student loan crisis have everything to do with it. https://t.co/rmSaALnQkZ" / Twitter


From last April,
Alexandria Ocasio-Cortez on Twitter: "How on earth could young people, whose:
-wages are flat
-costs of living skyrocketing
-experiencing increased social instability via bigotry, addiction, + violence
-expected to live shorter lifespans than previous gens
dare question the larger economic forces in their lives?! https://t.co/CigJD9HxVI" / Twitter


Now we need to merge the other threads about the 1%/90%, because what Zucman and Saez concluded (back initially in 2014 based on their findings from 2012) was that Baby Boomers/Gen X caused the (misnomer of) “wealth inequality” we’re seeing today, due primarily to a combination of behavioral attitudes toward saving and getting into debt (e.g., mortgages and secondary education and credit cards and the like). Z&S’s concluding recommendation to change the economic disparity was to do precisely what Milllennials (and Gen Z) did. Changed their attitudes toward saving.

And now that is being blamed for a sluggish economy.

I’m a Democrat through and thought but BOY do I fucking hate our pathetic misunderstanding of the economy and how shit gets the way it gets. It’s never anyone’s fault; always someone else’s fault, when in fact it’s always a combination of several different things with a multitude of different conditions and never a binary in sight.

We need to just brand babies with “caveat emptor” the second they come out of the womb.

There are predators!(1) Yep. They are out to get us! Yep. Do something! Can’t. Why not!? See one. But if we band together.... See one. But if we... See one. But... See one.
 
Way back in the Stone Age, when I was in high school, teaching high school was such a low paying gig that my high school math teacher (the one who didn't coach anything) worked along side his students stocking grocery stores in the summers, to make ends meet.
Well, admittedly math was a lot simpler in those days too. :)

Which was doubly sad when you know any actual teachers and know that teachers work a lot during the summer and out side of classroom hours. Now in many/most states, teachers earn better than that but nobody ever got rich for being a teacher at a public school.

Politesse didn't say anything about "getting rich". She said that teaching used to be a middle class profession, implying that it is not any longer. In reality teachers are solidly middle class.

Adjunct instructors at universities are paid extremely poorly. Extremely. And more and more, universities are trying to rely only on adjuncts whenever possible.
#notalladjuncts
Adjunct professors have a pretty low 10th percentile with $14k (part time, so there is time to take a second job). Median is not that bad at $35k. 90th percentile is even $74k. As far as I know, low pay for adjuncts is for the most part only a problem in fields where there is not much demand outside teaching and at a same time an oversupply of PhDs. The solution would be for fewer students to pursue these majors and especially refrain from pursuing advanced degrees in them. There is only so much need for English or Art History majors!
 
Well, admittedly math was a lot simpler in those days too. :)



Politesse didn't say anything about "getting rich". She said that teaching used to be a middle class profession, implying that it is not any longer. In reality teachers are solidly middle class.

Adjunct instructors at universities are paid extremely poorly. Extremely. And more and more, universities are trying to rely only on adjuncts whenever possible.
#notalladjuncts
Adjunct professors have a pretty low 10th percentile with $14k (part time, so there is time to take a second job). Median is not that bad at $35k. 90th percentile is even $74k. As far as I know, low pay for adjuncts is for the most part only a problem in fields where there is not much demand outside teaching and at a same time an oversupply of PhDs. The solution would be for fewer students to pursue these majors and especially refrain from pursuing advanced degrees in them. There is only so much need for English or Art History majors!

Adjunct positions are ideally positions created to cover temporary shortages in regular faculty staff or more generally, to allow those with other, 'regular' 'real world jobs' to teach locally so that students can benefit from 'real life experts.' For instance, this might include having a local attorney with expertise in business law teach a business law course to students in a business program at a university which does not have a law school attached, as most do not. Or having highly qualified nurses teach an occasional nursing course to nursing students or a highly regarded teacher in the local K-12 system teach an occasional course to students who are seeking to become teachers.

Unfortunately, many universities overly rely on adjuncts as a way to hire cheap and highly disposable labor. Many universities also rely overly on part time faculty, leaving those faculty to attempt to make up the difference in their pay by traveling to other universities and picking up other courses to teach.

This article nicely sums up many of the issues adjuncts and various disciplines face:

https://www.aaup.org/issues/contingency/background-facts

The whole thing is worth the read but here is this. Bottom line, over reliance on adjunct faculty hurts students and is bad for education
Heavy reliance on contingent faculty appointments hurts students.
Faculty working conditions are student learning conditions.
Faculty on contingent appointments are typically paid only for the hours they spend in the classroom. While they may be excellent teachers, they are not given adequate institutional support for time spent meeting with students, evaluating student work, and class planning and preparation.
Adjuncts are often hired on the spur of the moment with little evaluation or time to prepare--sometimes after a semester has already started.
Faculty in contingent positions often receive little or no evaluation and mentoring, making them especially vulnerable to being dismissed over one or two student complaints.
Faculty in contingent positions, though they may teach the majority of some types of courses, are often cut out of department and institution-wide planning. The knowledge that they have about their students and the strengths and weaknesses of the courses they teach is not taken into consideration.
The high turnover among contingent faculty members mean that students in a department may never have the same teacher twice, or may be unable to find an instructor who knows them well enough to write a letter of recommendation.
The free exchange of ideas may be hampered by the fear of dismissal for unpopular utterances, so students may be deprived of the debate essential to citizenship.
They may also be deprived of rigorous evaluations of their work.
Overuse of contingent faculty appointments hurts all faculty.
The integrity of faculty work is threatened as parts of the whole are divided and assigned piecemeal to instructors, lecturers, graduate students, specialists, researchers, and administrators.
Proportionally fewer tenure-track faculty means fewer people to divide up the work of advising students, setting curriculum, and serving on college-wide committees.
Divisions among instructors create a less cohesive faculty; on some campuses, tenure-track and adjunct faculty rarely interact or participate in planning together.
Tenure should be a big tent that provides due process protections for the academic freedom of all faculty; where contingent appointments predominate, it becomes instead a merit badge for a select few.
Academic freedom is weakened when a majority of the faculty lack the protections of tenure.
The insecure relationship between faculty members in contingent positions and their institutions can chill the climate for academic freedom, which is essential to the common good of a free society.
Faculty serving in insecure contingent positions may be less likely to take risks in the classroom or in scholarly and service work.
 
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