It may seem simplistic, but perhaps an attitude adjustment would improve the outlook for our uncertain economic future.
Charles Blow wrote about the The Morose Middle Class, citing several polls showing Americans are worried about a shrinking middle class.
According to the poll, Americans see a middle class with less opportunity to get ahead, less job security and less disposable income than the middle class of previous generations.
I have some recent posts on this theme of a hollowed out middle class, with Megan McArdle citing technology and trade as main culprits. And although ”education is not a solution by itself”, most of us still believe in its value for at least keeping us out of poverty.
Most of those polled believe that higher education is the key to staying in the middle class, but many worry about its prohibitive cost and inaccessibility.
What about a willingness to work hard?
There is no denying that soaring costs have created a formidable barrier to higher education. But beyond soaring college costs, technology, and trade, it might be argued that weakened stamina for hard work is even more to blame for our economic woes.
The Atlantic gives us a story about John, a young man who feels like he’s “working really hard, but he’s not getting ahead”.
Is he working really hard? The details of John’s story failed to convince me.
- He was an unmotivated high school student, graduating with a C-average.
- His parents encouraged him to attend college, and paid for it.
- But he dropped out after two years, struggling with math and science.
- He is now 29 years old, working as a preschool teacher making $11 an hour — about $23,000 a year.
- He lives in a “cluttered” house, owned by his parents and rented to him at a discount.
- He “wants’ to go back to school and “thinks” about getting a second job.
- He sometimes gets angry, but also admits he “kind of” blames himself.
Various factors influence economic success.
“Economic mobility is not predetermined,” says Erin Currier, project manager of Pew’s Economic Mobility Project, “but our research has shown that a host of drivers and factors can influence a person’s chances of moving up or falling down.” These determinants fall into three categories: social capital (who you know and where you live); financial capital (your savings and access to credit); and human capital (your education).
John’s parents have tried to help him with social capital (John rebuffed his dad’s offers to help him find a job at the railroad) and financial capital (the house with discounted rent, although no help with tuition). What he needs is more human capital. For that, his parents can’t help much, except to offer encouragement. “He’s smart enough to go to college,” Greg says. Beth adds: “We still want better for him, we really do. But we don’t know what to do.”
From a comment to this story:
… I’ve never met a kid in college who actually “worked hard” (shown up every day, did the work, went to office hours, etc.) and still failed. I’ve met dozens of kids who did none of those things, but then complained when they failed the tests.
It appears John lacks more than “human capital”. What about persistence and a willingness to work hard?
This is what working hard looks like:
The other day I met a young man at a car rental place. He was quite engaging, and chatted about his work life. Washing cars and shuttling customers at the rental company is his second job. His main job is driving a UPS truck for 42 hours a week. In total, he works about 70-80 hours a week. He said he hardly had time to see his girlfriend, but she understood. He was making good money. I didn’t learn if he was planning to attend college, and I cannot predict how this young man will fare in the increasingly competitive workforce of the future. But I am convinced he really is “working hard”, and that his chances of future success are higher than those of John, the college dropout profiled in The Atlantic.