Yesterday’s Resolution Foundation’s report on living standards showed how the post-recession pay squeeze had affected the pay of different groups. It found that younger workers had seen the biggest reduction in median pay while older workers had got off lightly by comparison.
Chris Giles responded with a piece on the “The dark underbelly of Britain’s jobs miracle”. His conclusion:
The gains for older workers come not because they are worth it but through the exercise of power.
I had a quick Twitter conversation with Chris about this. He’s not talking here about an overt grey conspiracy to hold down young people’s pay. The power he describes is the insider effect, where privileged positions are preserved. The accumulation of resources and positional power over time has entrenched the power of the older workers.
This, though, is legacy power. It derives from the older workers having come into the workplace during a time…
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Utopia, you are standing in it! 
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