The "free movement of capital" only ever seems to move the capital one direction: up to the people who needed the labor of others to reach such wealth.
I am sorry that you feel you are downwardly mobile, but you should not assume your experience generalizes.
This is, in fact, a generalized experience: [0]
[0]https://www.pewresearch.org/social-trends/2019/02/14/millenn...
i think if you gave people a legitimate choice to go back to 1980 (and take their friends let’s say), we would see the revealed preference. certainly if you did it for a year and then gave them the option to come back
Your article is from 2019. We're now "wealthier than previous generations were at [our] age" [1].
[1] https://www.wsj.com/personal-finance/millennials-personal-fi...
edit: Bezos doesn't own the WSJ. I'm wrong.
That being said, it seems to reference property owners. Hell, if I'd had the money to buy a house prior to the pandemic, I would have. I didn't because of constant reorgs at my employer at the time, which resulted in hiring freezes and reduced raises. The goal behind these was to make the company attractive to buyers. Eventually, they did find one: Oracle. They've since gutted what was a major employer for my region.
Since the pandemic housing has skyrocketed and pay hasn't kept up. It's been stagnant for 40 years while economic output has risen, along with COL [0].
Where'd all of the value go?
(that's a rhetorical question)
[0]https://www.consumeraffairs.com/finance/comparing-the-costs-...
- there is a shortage of housing
- predatory loans for higher education
- chronic health crisis due to terrible government health policy and guidelines
- globalization has led to an international labor market
The last point may be bad for many Americans but an unequivocal good for the world. Global poverty has seen an incredible drop in the past 70 years. https://en.wikipedia.org/wiki/Extreme_poverty#/media/File:Wo...
I would put that more on a failure of culture to value healthy living and activity. I wouldn't call that the responsibility of the government. Perhaps lack of clarity on ownership is related to the crisis itself.