This could be one of the most irresponsible generations.
When democracy and rule of law comes to light, many groups of interest arise to defend their own belongings. This could be a burden for economic growth as Mancur Olson pointed out in his book “Rise and decline of nations”; but it is also a signal of development, as the state of law is the protection of minority rights rather than the rule of the majority. Without your rights, incentives (the source of economic growth according to new development mainstream) to make business, trade and become rich disappear. Incentives disappearance in minorities’ side causes incentives for majority to take rights, resources and ideas from them rather to be innovative (R+D+I).
Who are those minorities or people without rights? It is not just people who are less in number but also those who are underrepresented or no represented at all. Who? Among others, the next generation, they are unrepresented in our Congresses and Parliaments, they can not argue our decisions, they are not,… yet. Therefore, here we are us taking money from sons and grandsons. And not just money but also resources and no yet ideas cause we don’t know what they will think (it is better not to know). We have the greatest debt ever in relative terms.
We have plundered more resources from earth than any other generation in history; in our defense, we are the first with the technology to do it. But with this excuse no judge would let us free.
So, we are loading on our next generation a giant bill, plundering their legitimate resources and what’s more demanding them to keep paying our retirement (as you know crossgeneration retirements system uses the money of young people to pay costs of old ones)
As The Economist showed it (13th Jun 2009 Issue cover), welcome to the world child.