In this conversation, Sabrina Maddeaux and Mike Moffatt are joined by co-host of the Prof G Markets podcast with Scott Galloway, and host the First Time Founders podcast Ed Elson to discuss the economic challenges faced by Gen Z, including their financial struggles, housing affordability, and the rising costs of education. Ed highlights the generational wealth gap, the impact of debt, and the political engagement of Gen Z, emphasizing the need for action beyond social media advocacy. Together they delve into the disconnect between wealth and economic outcomes, particularly focusing on the impact of tariffs and taxation on different socioeconomic classes. They discuss the need for wealth redistribution through new tax policies and the challenges faced by younger generations in navigating financial landscapes. The conversation also touches on the importance of civic engagement and voting, as well as the growing epidemic of loneliness in society.
Chapters:
00:00 Introduction
01:49 Understanding Gen Z's economic struggles
06:22 Comparative analysis of the US, UK, and Canada
08:34 Factoring in the housing affordability crisis
13:29 The debt dilemma: Buy Now, Pay Later (BNPL)
17:26 The rising cost of education in America
21:35 Gen Z's political engagement and activism
25:17 Tariffs, stocks, assets and wealth inequality
27:38 Taxation and wealth redistribution
31:23 The disconnect between wealth and economic outcomes
34:08 Investing in stocks and not in crypto
38:04 Seeing an opportunity in A.I.
41:44 The power of voting and civic engagement
44:33 Addressing loneliness and societal trends
46:36 The time to turn it around is now
Research/Links:
Can Homes Become Affordable Without Prices Going Down?
Trade War Chaos Drives Massive Volatility — ft. Gary Stevenson | Prof G Markets
Why Tariffs Could Crush Canada’s Economy — ft. Mike Moffatt | Prof G Markets
Average Age Stat of a Home Buyer in America:
AI vs. Gen Z: The Hiring War Has Begun
Extended Cut: A$AP Rocky Gets Smoooth | Klarna
Guest:
Ed Elson https://x.com/edels0n
https://podcasts.voxmedia.com/host/ed-elson
Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux
Produced by Meredith Martin
This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.
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