Millennials Skip the Ring and Mortgage – Bloomberg View (Megan McArdle)
On the other hand, the job market looked pretty dim in 1938, and things were about to get a lot better. So you don’t want to be too deterministic with these sorts of forecasts.
This is the sort of fatuousness that drives me up a wall about Megan McArdle.
Most objective observers believe that the socialist regulations that FDR instituted to fight the Depression actually extended, rather than mitigated it, but even so, the economy was nowhere near as burdened with taxes, regulations, and generalized government interference as our economy today is.
Next, if you think that “about to get a lot better” means “about to be goosed by a couple of million men leaving the workforce to go fight in World War II” as being the situation today (I actually think it might be, but that’s another story) then you need to say it, not present an argument based on some mysterious “goosing” force that just happened to begin around 1938.
McArdle used to show occasional flashes of acuity. But now that she’s doing little more than peddling D.C. Ruling Class conventional wisdom, those days seem long gone.