SkipdiverJohn
Deplorable Brexiteer
- Location
- London
.........it is not simply about money. I think change is being driven by technology not disposable income.
Without the disposable income, there would be no money available to buy the latest technology. There's a lot of older club cyclists around these days, you only have to look at any group of weekend riders to see this. In one sense it's a good thing because it keeps people fit, but the only reason a lot of these riders can participate in the way they do is they are semi/fully retired, have investment or occupational pension income, have sold businesses etc. The MAMIL phenomenon is largely the manifestation of the post-war baby boomers with their own paid-for houses and generous work pensions giving them the freedom and financial clout to spend and consume in a way their own parent's generation couldn't, nor will their children's generation be likely to do - certainly not to the same degree. Enjoy it while it lasts - it's likely to be a one-off. The 35 year period from the end of WW2 until about 1980, when labour had it's highest ever share of GDP, is an aberration in the timeline of post industrial revolution capitalism, and unlikely to be repeated. It only ever happened because governments and capitalists both reached a consensus after the war that neither wanted either fascism of communism, so workers would have to be granted a bigger slice of the wealth pie to defuse radical politics. The post WW2 economic prosperity years were the result. and many of today's older still spending and consuming generation are the beneficiaries of those decades in their retirement..