"Millennial" is not a very substantive term; I wish people would stop using these "generation" labels. They
might be useful as marketing concepts; not much more.
In the long run, the economy matters way less than generally perceived. — alcontali
"In the long run we are all dead", as one famous economist remarked. You are a social conservative, apparently, given your "
It could also be handled by solidarity at the level of the extended family, along with charity at the level of the religious community" statement. It could be, but that hasn't been the case in the United States (and other industrialized countries) for a long time. By the 1920s multigenerational arrangements were pretty much history. Working class houses were too small to accommodate 3 generations. In addition, women began entering the workforce en masse (by necessityP) in 1941, and have stayed there, in varying numbers since. Welfare a la religious and secular charity has been practiced in the United States, but it was meagre. Further, private charity buckled during the great depression. 25% employment (a minimum estimate), widespread foreclosures, farm failures, business failures, and more pretty much shot the capacity of private charity out of the water.
Further more, the United States (in particular) could, can, and would be able to afford very satisfactory publicly financed welfare programs, if so much money wasn't sequestered by the richest 1%.
Thinking that the economy matters less than perceived is an
extremely flawed idea. It's not
even wrong, actually. What individuals, families, and societies are able to do depends on the economy--and that includes everything from private charity, to pre-school programs, to abstract expressionism, to sending mobile robot labs to Mars.
In fact, the population could even make do with less than half their current income — alcontali
What would your life be like if you "made do" with 50% of your current income?
Sure, people do waste an appreciable percentage of their income. Buying complicated cups of coffee and meals away from home (which many people do every day) is very expensive. A thermos and a bag lunch would save lots of money. (I brought my lunch to work for many years.). Impulse purchases at stores (I'm guilty), buying a big new car, frequent vacations away from home, lavishing care and feeding on dogs (which I love) but I never forced a dog to endure a long illness by buying expensive canine health care to keep it alive). Dearly beloved dog, you're very old, you're sick, and I love you enough to give you a painless and peaceful death. Maybe somebody will be kind enough to do the same for me, someday.
I have practiced thrift all my life -- not because I am virtuous, but because I grew up poor, and thrift was a necessity at home. The downside of poor folk's thrift is that we are usually not very knowledgeable about finances. I knew how to save, I didn't learn how to prudently invest what I saved (until late in the game). As an unmarried man with no huge expenses, thrift worked well for me. Had I added a wife and 1 or 2 children, a house payment or much higher rent, even an old car, etc. I would have gone broke in short order.
I attend a church with a reasonably well off congregation; there are a few there who are very well off. Giving to the church is quite respectable. How much charity could this church actually disburse? Maybe we could support 2 or 3 small families. If you take all of the churches in Minneapolis that are financially sound, (let's say there are 100) that's 2 or 3 hundred families--let's say, 600 to 900 people. There are about 90,000 poor people in Minneapolis. Let's say the churches really stretched themselves and decided to spend enough to support 3600 people, instead of 900. Even if my fairly well-off church spent for charity instead of its other discretionary spending, we could take care of only a few people (total support) over the long run.
That still leaves 86.400 people to care for. Who's going to do that, in your privatized scheme?