Good work is still highly valued, it's just that the value is not paid to the worker, but to the company owning the work. If you increase a company's profit by $500k annually through setting up a new automation system, you'll still only get your $40k internship salary. And the company will pocket the remaining $460k, to be paid out to the owners as profits.
So yes, I fully agree with you. This hits the young people the hardest because they are the ones to own the least, on average. But more in general, everyone who is not part of the elite owning those companies and their preferred stocks is suffering.
It's almost a cliche "owners vs. workers" class war at this point. But for some reason, everyone in the US expects to enter the owning elite within years - no matter how ridiculously improbable that is - so nobody is willing to stand up for the workers.
So yes, I fully agree with you. This hits the young people the hardest because they are the ones to own the least, on average. But more in general, everyone who is not part of the elite owning those companies and their preferred stocks is suffering.
It's almost a cliche "owners vs. workers" class war at this point. But for some reason, everyone in the US expects to enter the owning elite within years - no matter how ridiculously improbable that is - so nobody is willing to stand up for the workers.