I never trust single factor explanations. It usually means that I don’t understand things well enough. However I’ve been obsessing over this graph for a week, because I feel it’s such a huge contributing factor to a range of current phenomena:
This declining economic position for young people (on the current trajectory the next generation of thirtysomethings will, on average, be technically destitute) is now cited as a major factor for the continuing drop in US birth rates:
The toy industry is already starting to debate what this is going to mean for medium term product planning (Less toys? Higher prices? More nostalgia?) . This is a short (8 min) discussion between Chris Byrne and Richard Gottlieb that replicates several conversations I’ve had over the last few days with senior toy company folks:
It goes without saying that toy companies didn’t do brilliantly in Children of Men. I wonder how long it will take other sectors to start running the same calculations? Immigration reform will help but the data suggests US household wealth needs to be almost equal billing with climate change as a priority.