I was at an event recently where several top business executives were perplexed about why Americans under 40 are so disillusioned with capitalism. What could they do to restore trust in our economic system?
My suggestion was simple: Treat workers better. This wasn’t the answer they wanted. Many rushed to tell me how generous their pay raises have been, how easy it is to go from an entry-level job to management at their company, and how they have diversified their workforce. These are all welcome efforts, but they miss the bigger picture. Young people in America have come of age during the Great Recession, the sluggish recovery that followed and then the coronavirus pandemic. Unemployment has been 10 percent or higher twice in the past 15 years. Young workers have seen how expendable they are to companies and how quickly financial security can evaporate.
