Observing over my approximate half of a life I've noted a very intriguing trend -- one in line with "Privatized profit, socialized losses" which I believe I first heard through Noam Chomsky.
I've noted that there has been an increasing requirement for systemic risk to be absorbed by individuals in order to keep up in capitalism. For example once upon a time one could reasonably try and retire with Bonds as a major asset grouping. Later stocks were the minimum viable investment vehicle (more risk, for basic return), some might even say now inorder to get an ok return one needs to chase risk further with things like ARKK tech stocks and cryptocurrencies.
Similarly has been observed in employment. At one time, during strong unions, a lot of the risk was forced upon the employer -- for example defined benefit pensions, or disability benefits that might have seemed extreme by today's standards. Nowadays having a single employer is basically only slightly better than being a contractor, but pays much much less -- the livable compensation now requires much greater risk of being a contractor (from self insurance, contract stability, risk of not being paid etc).
I've noted that there has been an increasing requirement for systemic risk to be absorbed by individuals in order to keep up in capitalism. For example once upon a time one could reasonably try and retire with Bonds as a major asset grouping. Later stocks were the minimum viable investment vehicle (more risk, for basic return), some might even say now inorder to get an ok return one needs to chase risk further with things like ARKK tech stocks and cryptocurrencies.
Similarly has been observed in employment. At one time, during strong unions, a lot of the risk was forced upon the employer -- for example defined benefit pensions, or disability benefits that might have seemed extreme by today's standards. Nowadays having a single employer is basically only slightly better than being a contractor, but pays much much less -- the livable compensation now requires much greater risk of being a contractor (from self insurance, contract stability, risk of not being paid etc).
Anyone else observed similar patterns?