Not Every Kid-Bond Matures – Kids These Days, a book and an article about it.

Since I’m in the business of helping young people get into the college(s) of their choice, this paragraph from the article speaks to me:

“At the end of childhood, some millennials go to college to continue accumulating human capital. Harris is a peerless observer of the harrowing economic costs of “meritocracy,” and his chapter on college abounds in withering apercus. “College admissions offices are the rating agencies for kids,” he writes. “And once the kid-bond is rated, it has four years until it’s expected to produce a return.” Because the pressure to accumulate human capital is so intense, students will bear enormous costs to do it. Far from the coddled children of stereotype, Harris points out, most college students are “regular people—mostly regular workers—who spend part of their work-time on their own human capital like they’ve been told to.” Exhaustion, overwork, and even food insecurity are common. Colleges themselves, meanwhile, reap obscene rewards from their gatekeeping position by offering a worse product for a higher price: hollowed out pedagogy from exploited adjuncts and graduate students, masked with “shiny extras unrelated to the core educational mission.” Aggrandizing administrations bloat on student debt, the key to the whole scheme. Student debt, Harris argues, is a bloodsucking Keynesian stimulus, turning the value of the future labor of young borrowers into the capital to build stadiums and luxury dorms today, jacking up tuition even higher and allowing another round of borrowing and building.”

Not Every Kid-Bond Matures

Not Every Kid-Bond Matures

The summation Kids These Days gives us is harrowing: here is a generation hurrying to give in to the unremitting, unforgiving commodification of the self. Malcolm Harris predicts a future of debt servitude, confinement for the “malfunctioning,” worsening misogyny (though his gender analysis is less coherent than the rest of his argument), and total surveillance. Millennials, that is, are the first generation to live in the dystopia to come.