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How To Make Sure The Next Generation Is Better Off Than We Are

Mohamed A. El-Erian

Vocational training will also need to play a more important role in preparing the next generation - thus reversing a secular decline in emphasis. And safety nets will need strengthening given the time that it takes to re-orient a labor force and overcome structural rigidities that have been allowed to get embedded in the structure of too many economies. 

Individuals and companies need also to step up to the plate and assume greater responsibilities.  

This natural tendency is understandable, but it can also be countered by clever design of financial responsibility and fairer burden sharing. It can also be offset by earlier and more comprehensive political awareness among the young, including through the use of social media.  

We owe this to them not just to offset the excesses of our generation - and thus the burden we have already imposed on them - but also as responsible parents, grandparents and citizens of vibrant and caring democracies.

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