A lost generation?

A century after the Lost Generation of renowned authors such as Ernest Hemingway roamed the Latin Quarter of Paris, a similar lost generation of Argentine youth is causing concern for a country that appears to have a promising future. The experiences of these two generations contrast significantly. While the Lost Generation was deeply affected by World War I, the Argentine youth faced the Covid-19 pandemic, which, though less lethal than World War I, still had a profound impact on their futures.

The Argentine interwar period in Paris offered a more enriching experience for young people than the harsh realities of growing up in Buenos Aires during that time.

The welfare of young people has become a pressing issue, with focus shifting towards problems such as juvenile delinquency, drug abuse, youth unemployment, and online betting. However, there is a greater need to examine the everyday lives of this generation. Education, once a valuable means of upward social mobility, has lost its scarcity.

The number of universities has increased from 80 to 130, but the shrinking private-sector workforce and the reduction of the public-sector payroll have created a challenging landscape for young people. Traditional fixed employment that could lead to a stable pension is now scarce, with young people opting for the gig economy, where they strive for minimal gross earnings and prioritize immediate gratification over long-term planning.

The concept of pensions has become increasingly exclusive, as they now primarily benefit the older generation, which accounts for 40 percent of the budget. The younger generation feels left out, as they face higher taxes and no significant return on their investments. Housing remains a significant barrier, with the transfer of property from parents to children being less common in recent decades.

The delayed transfer of property due to increased longevity further complicates the situation for young people, who cannot afford even a small flat on the cash down basis. The lack of homeownership exacerbates the financial struggles of the Argentine youth.

The Argentine government's recent actions, such as doubling AUH child benefits, have only added to the sense of isolation among young people. The government's efforts to encourage mortgages through credit from pension reserves have proven ineffective for those earning less than 3.5 million pesos per month. This inability to secure financial stability has left many young Argentines feeling trapped and disillusioned with politics.

The previously pro-Yankee Javier Milei administration, which garnered significant youth support as an anti-system candidate, now represents the status quo rather than a promising alternative. The opposition candidate, Buenos Aires Province Peronist Governor Axel Kicillof, has maintained his authority among the youth for nearly 80 months, but his lack of concern for crime and his traditional approach have been met with frustration by many Argentine youth.

This situation highlights the need for attention to the concerns and aspirations of the Argentine youth, who make up over a quarter of the electorate. Turning their attention away from politics and civic values will be a significant challenge for candidates in the upcoming elections. George Bernard Shaw's quote, "Too bad youth is wasted on the young," underscores the urgency of addressing this issue, as preventing the waste of youthful potential should be a collective responsibility.