Capitalism Among Millennials

Among the main functions of this blog is to channel a platform of political ideas to a generation of future leaders among us as Millennials.

I am a macro economics junkie fixated with an empowering faith in human economic choices as a force of governance. I believe capitalism to be an economic system aggregating individual human choices in order to efficiently allocate scarce resources. I highlight that this definition empowers and emphasizes the significance of individual choices and decisions of which dictate a feedback system of rewards and consequences that affect our next decisions. This, in my humble opinion, most closely resembles the principles of life in this universe.

I grew up, along with a large portion of my generation, believing that capitalism was a broken system that serves the wealthiest group of individuals at the expense of the large majority beneath them. It is now my belief, as a 23 year old, that capitalism serves the wealthy the best solely because the wealthy understand the system in such a way that the middle class does not. As a result, I believe that lower classes have become the servants of the system as employees of wealthy capitalists, and overly dependent on the resources (such as jobs) that the wealthiest groups provide. I do not believe in the “trickle down” approach of economics as much as I believe in the capacity to create wealth to be available to all individuals, namely through avenues outside of a company check through entrepreneurship and investments. I believe in the power to employ innovation and creativity through a risk-reward system as a means of living, versus what conventional values advocate for in higher schooling and secured corporate positions with benefits.

Above all, I believe that the Millennial Generation will benefit on plenty discussion over our economic and value systems.

As my previous post indicated, I have a strong sense of optimism with regards to the future of humanity namely because of the collective unconventional identity of Millennials. I understand the pessimistic views regarding our generation, especially among Millennials themselves, as certain research supports a growing sense of narcissism and entitlement among our generation (Twenge). I’m not a sociologist nor am I an expert in studying generations. But there certainly is research suggesting an insurmountable capacity to breakaway from the status quo in large effect, be it for the better or worse. Pew Research suggests Millennials are “detached from institutions and networked with friends,” to which I would say is an important statement when considering my belief that Millennials have the capacity to rewrite the rules of traditional politics and values by engaging in a collective effort, even if engaging collectively means just to contribute among peers to the spreading of viral videos and other forms of activism for awareness.

If we have the capacity as a generation to create change as a collective power for better or for worse, then posts and blogs and other forms of conversation are extremely vital in engaging the community to a platform of differing ideas, values and ways of thinking.

Before us is a failing economic value system propped up by unsound federal policies that may not survive in it’s current form by the time we enter midlife. To emphasize, I do not believe this is a failure of capitalism. I believe it is a failure of economic values. I, like many Millennials, believe that the convention of working hard from 9-5 p.m. on a fixed salary will attain you the “American dream” is a hoax. My beef is not that our society overvalues money, but that wealth isn’t valued enough by the commoner. I believe that as a middle class, we can effect meaningful change by engaging in our own business opportunities based on business that is important and significant to us individually. If money is not the motive, be it a motive that is effective to you which will provide motivation to, for example, start a fashion blog, or a nonprofit business providing for the homeless, or selling your art on eBay or Etsy. Start small. Grow it. Read about it. Learn. Live. Compete. Make the world a better place. Capitalism allows us to create meaning to the world as a means to live. Our mindset as a generation just isn’t geared enough to think that way. Engage yourselves for the responsibility over change, because whether we want to or not, change will come among us with a chance to leave a legacy as a generation.

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