The Frontline Blog
Recession and the younger generations
Monday, 22 Feb 2010If you're still at school or college or in the first flush of your career, chances are you'll be paying for the economic crisis for the rest of your life and possibly not even be aware of it. The billions in bonds that we sell to raise money to recapitalise the banks will all have to be repaid and it's the younger generation that will bear a lot of the burden.
And you don't have to look far into the future to feel uncertain about our economic prospects. The fact is that youth unemployment has jumped from around 10% to a staggering level of over 30% during this crisis and for many, Australia or Canada is now a far more inviting prospect than Ireland as a location to build a career and a life. Unlike the recession of the 1980s, however, this one will see many young people stay at home because job prospects in the UK, Germany etc. are not much brighter. Many of those young people have higher expectations than their 1980s counterparts and won't necessarily take recession lying down.
What does all of this mean? Should the younger generation take the opportunity now to eschew the tradition political parties and start forging a completely new politics? Is that just fantasy or is the real fantasy the idea that the current system can lead us out of trouble? Is the answer to take the initiative, start your own business and not look to the state? Or will that kind of individualism inevitably lead us back into the same cycle of boom and bust?
Tonight's programme will feature young people with experiences of emigration, unemployment and entrepeneurship along with strong views on how to change the system. Dylan Collins of Jolt Online Gaming will tell us how he made his millions and Stephen Kinsella, author of "Ireland in the year 2050" will be on hand to give us his prescription for getting out of the crisis. Ruairi McKiernan of spunout.ie will get things going at the top of the programme and the political parties will face the audience. It promises to be lively so we hope you enjoy it.
You can comment on thefrontline@rte.ie or post your views below.
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