I was watching the television interviews of some of the Occupy Wall Street young people. In this particular segment they seemed to only be able to find 22 year olds. That is, those just out of college who have not been able to find a job. The latter is understandable since the unemployment rate of 18-22 year olds is somewhere in the neighbor- hood of 25% or worse. They are angry. They feel they have been sold a bill of goods. They have been told, ‘get a good education and you will find your job and place in life’. Only that isn’t so much happening these days. There are a lot of unemployed college graduates, and the number of unemployed high school graduates who did not go on to college is astronomical. Your odds at least are better if you have a college degree. Looking around for someone to blame for this mess, the Occupy Wall Street crowd has fixed on Wall Street, on the Bernie Madoffs in our world (as in made off with our cash). And of course there is some truth to the rumor that greedy people on Wall Street caused the crash of 2008. But it is not the root of the problem. Nor is the root of the problem laziness. Nor is the root of the problem a lack of hard work. Americans still by and large are very hard workers, compared for example to the Greeks. No, none of this gets at the root of the problem.
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