24 days ago
- Degeneracy is described as a symptom of structural issues, not moral failings of the younger generation.
- Conspicuous Despair refers to behaviors like gambling, OnlyFans work, and social withdrawal, which signal exclusion from productive economic participation.
- The essay argues that we are in a "Ponzi stage" where wages can't cover basic living standards, leading to rational but despair-driven responses.
- Historical parallels show rentier classes blaming visible symptoms (e.g., degeneracy) rather than addressing structural causes like asset inequality.