Sir, Edward Luce (Comment, January 13) argues that libertarianism is gaining a following in the US among the youngest. He contrasts the libertarian distrust of public institutions with the success of Barack Obama in leveraging youthful idealism about public service. From great hopes come great disappointments.
However, there might be other reasons for libertarian sensibility growing stronger among the young. We should look at the bigger picture.
Ever increasing government commitments have resulted in unprecedented public debts, on both sides of the Atlantic. Unfunded liabilities of the social security system breed greater uncertainty for the future, especially for those in their 20s and 30s. Government-provided education looks increasingly unable to equip people with the knowledge and skills to compete in the global economy.
In short, policies conceived to distribute wealth in the past two generations are making it increasingly difficult to create wealth for the next one. Understandably, no one likes to pay the bill for a party they could not possibly attend.
Da FT.com, 16 gennaio 2014
Twitter: @amingardi
