End of The Good Life: How the Financial Crisis Threatens a Lost Generation--and What We Can Do About It

End of The Good Life: How the Financial Crisis Threatens a Lost Generation--and What We Can Do About It

by Riva Froymovich
     
 

View All Available Formats & Editions

Generation Y faces the bleakest economic landscape in modern history. The recent spikes in unemployment and debt, alongside a drop in marriage, home-buying, and childbearing rates, will have long-term consequences for a group that had no hand in creating the financial crisis. For these young adults, the American Dream is moving farther out of reach. Worse still,

…  See more details below

Overview

Generation Y faces the bleakest economic landscape in modern history. The recent spikes in unemployment and debt, alongside a drop in marriage, home-buying, and childbearing rates, will have long-term consequences for a group that had no hand in creating the financial crisis. For these young adults, the American Dream is moving farther out of reach. Worse still, leaders aren't doing anything about it. Drawing on a wide range of reportage and interviews from across the United States, Europe, Asia, and Latin America, Riva Froymovich gives voice to those struggling in this new economy and explains the harm of shortsighted government policies—including initiatives to curb the national debt and key social programs. Through policy suggestions that focus on social enterprise and investment in economic growth, as well as inspiring stories from young entrepreneurs carving out their own way, End of The Good Life presents a deeply relevant read for Millennials, their baby boomer parents, and anyone who cares about the survival of this nation's most important tenet: the opportunity to get ahead.

Read More

Editorial Reviews

Publishers Weekly
Rich with narrative detail from young people around the world struggling to stay afloat, this first book by Brussels-based economic reporter Froymovich focuses on the toll of the recession on Generation Y (those born between 1976 and 2000), the often overlooked new entrants to the job market, who are saddled with the results of economic policies they didn’t create. Froymovich examines a number of familiar culprits for the financial crisis, including austerity measures in the E.U., and, closer to home, demands for increased education, a dearth of jobs, and cumbersome tuition and loan policies. In addition, Froymovich lucidly explains how Generation Y suffers from the negative effects of long-term unemployment, an increased reliance by employers on temporary or contract work, and a tax system rewarding home ownership and parenting. While two-thirds of the book details the crisis, Froymovich offers mostly left-of-the-aisle solutions, which include changes in education savings and student loan policies, an overhaul of the accreditation procedure which would make affordable education more accessible, increased investment in public service jobs, and progressive changes in tax policy. The author calls on Generation Y to attack the problems of their own future with creative entrepreneurship and increased political involvement, because, as she makes clear, no one else is looking out for them. Agent: Rachel Sussman, Chalberg & Sussman. (May)
Booklist
“…Froymovich gives voice to the frustrations of a generation. …Most compelling are Froymovich’s interviews with a wide range of dispirited young adults that provide a more intimate picture of a generation exploring new paths, developing new opportunities, and reshaping its plans for the future.”
Heidi N. Moore
“A fascinating, global trip through the daunting numbers and frank stories of the challenges facing young people who want to start a business, make a better living than their parents, or just survive when the financial cards are stacked against them.”
Lucy Marcus
“An insightful and astute narrative about the world in which Generation Y is living and what the Millennials (and the rest of us) will need to know about how to be successful now and in creating the future.”
A.J. Jacobs
“Riva Froymovich brings a critical question to the forefront: how can we restore an American Dream that is quickly fading for Generation Y? Froymovich illustrates the problem in a vivid and personal way and offers bold prescriptions for meeting this daunting challenge.”
Kirkus Reviews
What will the future hold when the best-educated generation ever can't find the employment for which it is qualified? Brussels-based Wall Street Journal and Dow Jones Newswires reporter Froymovich debuts with an impressive presentation of the challenges raised by this question. The author argues that if policies are not changed internationally, those individuals born between 1976 and 2000, known in the United States as "Generation Y," could well become a lost generation. Generation Y member Froymovich examines the stories of a wide variety of people, including a graduate of Middlebury College now teaching in New York City and dealing with student debts and a 25-year-old Spanish journalist unable to find regular employment in his occupation. The author also cogently explains the underlying financial, economic and demographic trends currently under way. The daughter of immigrants who arrived in Brooklyn in the early 1980s, Froymovich compares her own experiences with those who entered the job market in the previous generation. In the U.S., the previous decade was the first since the 1940s when more jobs were lost than created. More than 17 million college graduates are working in jobs that do not require a college degree. In both the U.S. and Europe, unpaid internships, contingency contracts, temporary work and reduced salaries are replacing the higher-paid, longer-lasting jobs of just a few years ago, and many are choosing to delay household formation and marriage. Like others, Froymovich points to the counter-trend of half the world's labor force being located in Brazil, Russia, India and China and the foreseeable growth of a global middle class. She insists that maintaining America's competitive edge depends "on the construction of better policies" in education and the workplace. A forcefully written treatment of the plight in which an increasing number of people find themselves.

Read More

Product Details

ISBN-13:
9780062217844
Publisher:
HarperCollins Publishers
Publication date:
04/23/2013
Edition description:
Original
Pages:
228
Product dimensions:
5.30(w) x 7.70(h) x 0.70(d)

Meet the Author

Riva Froymovich has covered the euro-zone in the throes of collapse, the U.S. dollar's historic decline during the Great Recession, the rapid rise of emerging economies, central banks as they faced their biggest challenge since the Great Depression, and politicians' attempt to cobble together financial regulation. She has experience reporting in print and on camera for the Wall Street Journal and Dow Jones Newswires, among other outlets. Riva is a member of Generation Y.

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >