GENERATION SCREWED by
@Victoria_Spratt
If the 1980s and 1990s spawned Yuppies – young, “upwardly mobile” professionals with university degrees, well-paid jobs and disposable incomes – the 2010s and 2020s belong to the “Dumpys”: the Downwardly and Unhappily Mobile Professional Young. The Dumpys have some of the trappings of a middle-class existence – a degree, a professional job – but lack its foundations: a secure home of their own, financial freedom.
For the first time since industrialisation, huge numbers of young adults are no better off than their parents were at the same age. The comfortable, educated, professional middle class is collapsing, and with it the aspirations of many who wish to join it. Class war is not over, but the battle lines are being redrawn. Far from being a Blairite meritocracy, Britain is now an inheritocracy: a place where a young person’s life chances are defined not by their hard work, but by their access to family wealth.
Today, there is no single, widely agreed definition of what it means to be “middle class” or “working class”. Where once it may have been as simple as those who owned property, it is now more complicated – not least because Right to Buy meant council tenants could enter the property-owning classes. A person’s profession is no longer a clear guide to their class either, because thousands of people with apparently middle-class jobs and the historically middle-class credential of a degree rent and live from one payday to the next.
Intergenerational inequity is a problem for most Western economies, but it is particularly acute in Britain due to expensive housing, stagnant graduate wages, a fraying social safety net and extortionate childcare costs. Young adults everywhere are angrier than older people, and Britain is no exception. This, perhaps, is due to the gap between aspiration and reality: the chasm between what they were told life could be and what it is.
Cover art by Kris Andrew Small