July 17th, 2012
05:19 PM GMT
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Editor’s note: The Millennials are a generation that are constantly plugged in and moving fast to make their mark on the world. CNN’s Quest Means Business is tracking four of them. Here, CNN contributor and Millennial David Lloyd, with Jos van der Bij, a Dutch student doing an internship in London, write on the risks of mass unemployment.

(CNN) –  Youth unemployment in the 1930s destabilized Germany and radicalized a resentful youth, propelling support for extremist parties.

The consequences are well known. Now, with European unemployment rising, we should be drawing on lessons from the past. It is nothing short of a tragedy that youth unemployment in both Greece and Spain has surged above the 50% mark.

To prevent a generation of young people being unable to find jobs and set themselves up with a secure future, it is essential to act now. The policy maker who does not heed the lessons of history is guilty of negligence on a massive scale.

Just like in the 1930s, when the Great Depression caused youth unemployment to hit the 50% levels in Germany, the current financial crisis is wreaking havoc on young people.

Young people are always hardest hit due to their lack of work experience. This is now accentuated as the youngster from Athens competes directly against the math genius from Bangalore.

The new phenomenon of a global work force has resulted in a far more competitive job market. Perversely, widespread connections through internet and social media, coupled with the global embrace of consumerism, have raised young people's aspirations to all time highs, resulting in a devastating effect when reality hits.

Our experiences as an entrepreneur and student suggest adolescents are a group neglected by policy analysts and business thinkers.

Today's young people are tomorrow's leaders and the very people who have to create economic success and human security for the years to come.

It is a forward thinking government that takes into account its youth. Movements towards fascism and communism in Europe fueled Roosevelt's conviction that youth relief is a task for governments.

This resulted in the establishment of the National Youth Administration which assisted millions of young Americans by providing on-the-job training in the wake of the Great Depression.

Nationalist movements are simmering under the surface in Europe. The overwhelming emphasis on austerity is turning into a self-defeating and self-fulfilling prophecy. Some careful expansions of the state balance sheet are now necessary.

 The NYA should be applied in a modern form, protecting Europe's youth from the vicious linear chain of discontent, despair and desperation. There is little in place now to assist as programs have done in the past.

Workplace training helps young people by bridging the gap between education and the workforce. Internships should be expanded by making them compulsory in school and university curriculums.

Just like some universities do in private form, young people from the poorest families should receive a public subsidy where internships are unpaid or lowly paid.

We have to push for such change: Because most importantly, doing something productive fills a young person with a sense of dignity and self-respect.



soundoff (17 Responses)
  1. Anonymous

    I heard that a UK judge ordered a public posting of "Samsung DID NOT COPY Apple...Samsung DID NOT COPY Apple...Samsung DID NOT COPY Apple..." now how many times do they have to write this or post this???
    Thank UK judicial system for an inspiring idea...In fact, I would like David Cameron, his cronies on the Olympics Committee AND Samsung to write and repeat at least 100 times the following:
    "Samsung colluded with NFC to be exclusive phone/payment carrier for London Olympics with their Galaxy Phone, from dictate of Cameron and the Grand Poo Bah, the Oracle of Omaha, in a separate collusion with Cargill AND CJ Bio America (cousin to Samsung)."
    "Samsung colluded with NFC to be exclusive phone/payment carrier for London Olympics with their Galaxy Phone, from dictate of Cameron and the Grand Poo Bah, the Oracle of Omaha, in a separate collusion with Cargill AND CJ Bio
    America (cousin to Samsung)."
    "Samsung colluded with NFC to be exclusive phone/payment carrier for London Olympics with their Galaxy Phone, from dictate of Cameron and the Grand Poo Bah, the Oracle of Omaha, in a separate collusion with Cargill AND CJ Bio
    America (cousin to Samsung)."
    "Samsung colluded with NFC to be exclusive phone/payment carrier for London Olympics ...and repeat, and repeat, and repeat until repeated 100 TIMES!!! YOU BAD BOY!

    July 18, 2012 at 11:31 pm |
  2. Anonymous

    The very next day, in the UK papers were the following 100 repeated declarations...
    "Facebook convinced their Sugar Daddy, the Grand Poo Bah of Omaha to change Cameron's mind about excluding social media during the London Olympics AND P&G"...
    "Facebook convinced their Sugar Daddy, the Grand Poo Bah of Omaha to change Cameron's mind about excluding social media during the London Olympics AND P&G"...
    "Facebook convinced their Sugar Daddy, the Grand Poo Bah of Omaha to change Cameron's mind about excluding social media during the London Olympics AND P&G"...
    "Facebook convinced their Sugar Daddy, the Grand Poo Bah of Omaha to change Cameron's mind about excluding social media during the London Olympics AND P&G"...
    "Facebook convinced their Sugar Daddy, the Grand Poo Bah of Omaha to change Cameron's mind about excluding social media during the London Olympics AND P&G"...
    "Facebook convinced their Sugar Daddy, the Grand Poo Bah of Omaha to change Cameron's mind about excluding social media during the London Olympics AND P&G"...
    and repeat, repeat, repeat, repeat, repeated 100 TIMES...
    PLEASE POST FOR DURATION of LONDON OLYMPICS...Can't wait for the "BANG-UP time"

    July 19, 2012 at 12:03 am |
  3. medhat

    The most powerful online games
    http://www.elearning-directory.com/arabic-see2

    July 19, 2012 at 1:07 am |
  4. Anonymous

    OMG...it's deja vu again...those US government is playing by the SAME playbook as in the past with their waging war in Afghanistan...to HAVE a reason to increase military spending despite a growing deficit...to HAVE a reason to sell miliitary contracts to those countries in precarious geopolitical positions...to HAVE a "AXIS of EVIL" players...THIS TIME AROUND, it's Iran and Assad of Syria, never mind the INNOCENT VICTIMS of SYRIAN PEOPLE being MURDERED and MASSACRED everyday for their own political chess game! Just look at what they are up to and setting up on the board just as they targeted the Taliban as the enemy to have reason to wage war in Afghanistan but these same Taliban were once the US "friends" – trained and armed by them...And now, the Syrian opposition is now their new MUPPET to use against Iran as the new "enemy target" so they can have excuse to VOTE YES on sending warships, sending US military and troops to guard UK (are they in war? oh no...they are hosting the Olympics...). WHAT THE UN should DEMAND NOW since NO talk or NO sanction or NO PEACE PLAN is working and before ANY SINGLE SYRIAN CITIZEN and Palestinian and other ARABS are KILLED in the crossfire, DEMAND that the enemy of US...the scapegoat of Israel AND US...this AXIS of EVIL BE THE ONE AND ONLY ONE to mediate peace negotiation between Assad and the opposition...PERIOD and FINAL!

    July 20, 2012 at 12:28 am |
  5. Anonymous

    Such contrast in the meaning of "Ramadahn"...This will be my last posting of warning...
    Turkey, Lebanon, Iraq, Jordan and esp. Israel, YOU ARE MAKING THE ONE ASSUMPTION that could back-fire...
    Yes, the Syrian rebels were armed and ignited by the West, Suadis and Qatar to overthrow Assad for regional and geopolitical posturing...WHAT MAKES YOU SO SURE THAT ONCE THEY OBTAIN THEIR MISSION, THEY WILL BECOME YOUR NEW "FRIENDS"??? tick tock, tick tock, tick tock...

    July 20, 2012 at 3:33 pm |
  6. Anonymous

    To the HOPE community...

    THE COUNTDOWN HAS BEGUN...START ARMING YOURSELVES...the deadline is July 31st to take down CITIZENS UNITED!
    Holmes in Colorado, the DARK KNIGHT, paved the way for us to follow with his LIFE...
    tick tock, tick tock, tick tock...I AM READY!!!!!!!!!!!!!!!!!!!!!!!

    July 20, 2012 at 6:37 pm |
  7. Anonymous

    Response from the Hollywood media and studio executives:

    "We are truly saddened by the horrific event in Colorado but like ALL good Americans, we hope you do not let this one "isolated" terrorist incident DETER you from going out and spending your money, waiting in line to watch a CARTOON brought to life on the BIG screen so we can stuff our BIG PIGGY BANKS!" oink, oink, oink...
    So says the Zionist owners of Hollywood...

    July 20, 2012 at 10:15 pm |
  8. Anonymous

    To the people of BAHRAIN:

    Keep fighting...THIS IS YOUR CHANCE to bring down a so-called "ruling ROYAL family" who are rich beyond rich, divested their money in THOSE SAME COMANIES that swindled and laundered billions like Citigroup and News Corp media holdings...IF THEY WERE TRULY ROYAL, they would care for THEIR people, THEIR subjects! THEY WANT TO PIT all of ARABS and MUSLIMS against Iran and Syria USING Israel and US so they can maintain their power and wealth AND KEEP THEIR GRIP on their dwindling oil domination...SO SIMPLE ...DON'T YOU SEE THAT??? THEY MUST BE TAKEN OFF THEIR REIGN OF TERROR until they show they CARE about the welfare of THEIR PEOPLE b/c THAT is what royalty means in MY BOOK!!!!!!!!!!!!!!!!

    July 21, 2012 at 6:18 pm |
  9. Anonymous

    And last but not least, FOR THE LAST HOLD OUT SKEPTICS OUT THERE...here's further evidence of "follow the money timeline for the truth"...

    BOTH parties running for the TOP DOG role in the TOP DOG NATION of the world in TOP DOG MILITARY spending and TOP DOG deficit totaling BOTH have their dirty hands in the back pockets of their respective "SUGAR DADDIES of the Citizens United CLUB"...BUT, guess who is flying to meet up to raise funds from the London Olympics (the home of the LIBOR scandal and now HSBC dirty money laundering and terrorist funding bank)? And GUESS where else ROMNEY is jetting to after London to get MORE DIRTY MONEY to FURTHER finance terrorists in Syria, Egypt, Lebanon and probably soon Turkey...YUP, good ol "God's country and the land of God's People..." Hey, NETANYAHOOOOO...you gettin' ready to fill Romney's piggy bank more and to hide away his overseas accounts???

    July 21, 2012 at 10:52 pm |
  10. Anonymous

    here is today's time-out for Samsung, please contact Australian judge in this particular mass potential case...

    "Samsung tried to front-run with NFC and wireless carriers to corner this market...
    Samsung tried to front-run with NFC and wireless carriers to corner this market..
    Samsung tried to front-run with NFC and wireless carriers to corner this market..
    Samsung tried to front-run with NFC and wireless carriers to corner this market..

    AND
    "Samsung colluded with Microsoft in their SmartTV/Skype execution...
    Samsung colluded with Microsoft in their SmartTV/Skype execution...
    Samsung colluded with Microsoft in their SmartTV/Skype execution...
    Samsung colluded with Microsoft in their SmartTV/Skype execution...

    That's all for today...see you tomorrow!

    July 23, 2012 at 6:16 pm |
  11. Anonymous

    Thank you Mr. Quest for allowing me a platform to VENT MY ANGER...I do not trust social media platform and US CNN websites delete these messages but you allowed me to RANT without censorship nor without condemnation or judgment.
    I feel better now and cleared my "GARBAGE out"...

    July 23, 2012 at 7:13 pm |
  12. Prashant sihag

    hi
    Richard
    I want to know why ECB not using gold as a collateral to bring down brrowing cost.
    moreover Nobody is discussing the same.

    July 25, 2012 at 12:40 pm |
  13. medhat

    Fun to learn English for free
    http://www.elearning-directory.com/arabic-see2

    July 26, 2012 at 1:31 am |
  14. Anonymous

    BINGO Mr. Frank Sesno, Director of George Washington Media & Politics...
    THAT is what I was talking about and thinking about...YOU NAILED IT...it's a seed and as it grows into a flower, bees will help propagate and perhaps even morph or product new platforms...and on and on and on!

    BRAVO!!!!

    July 29, 2012 at 4:54 pm |
  15. Anonymous

    My observation after the spectacular and sincere Queen's jubilee celebration compared to the commercialization of the corporate elitism of London Olympics makes me long for those days of PM Atlee and his declaration when opening the Cultural Center...Perhaps UK, Scottland and Ireland should re-evaluate returning to the rule of the Monarchy- the Queen, Prince Charles and either Prince Harry or Prince William would be better equipped to handle the welfare of her Majesty's people than these MUPPETS of the corporate oligarchs and the purse strings attached since the Queen CAN NEVER BE BOUGHT!!! IDIOTS!

    July 29, 2012 at 6:01 pm |
  16. Voiceinthedesert/Troubledgoodangel

    I would like Prince Harry to spend less time on running around naked, and more on providing new sources of work for the youth of England. This said, I again return to my blue-kabor-barter dollar oidea. I believe that it is an ideal solution for the world unemployment! If only the leaders and economists wanted to listen. Just create a computer model, and see how the world economyn would blossom, if my idea was implemented. The blue dollars would be what the unemployed people would get for their labor. The dollar would be barterable for food and services., and it would be accepted by stores and supermarkets. In a week, hundreds of millions would be working, the youts helping their families to make ends meet, the old to supplement their SSI income! Just think, there would be no idle people causing mischief and crime. The prison population would be reduced. Crops would always be collected, due to plenty of workers! The world hunger would stop. I could go on and on. There would be no motivation for "Arab Springs" of any kind. I put my plan again for display: I have decided to call my idea a blue "labor dollar", un-exchangeable but "metaphysically imbued with value equal to the dollar. I am introducing a completely new way of thinking, wherein the equivalent money serves as a booster and enabler for world economy and individual nations' economies. This is a value greater that gold, and is therefore "equivalent" to a currency. Because there is no talk of “exchangeability”, no one needs to guarantee someone else anything, except the U.S. Central Bank’s guarantee that the idea is within the economic law, approved by the U.S. It’s a great humanitarian effort to change the way we perceive the world, and to put on Capitalism a human face. It’s not vouchers and it’s not “food stamps”. Its metaphysical value comes from the labor that earns it, the human rights of every person to work, eat, have a home, and the right to be treated when ill or disabled. It occurred to me that the blue dollar, acceptable for goods and services in all the world will change the world as we know it, provided that it become a 50% part of every payroll, Social Security deposit, and Medicare/Medicaid payment. The idea will end the problems of unemployment, world hunger, non-access to medical services, even Medicare/Medicaid problems, with a caveat that the benefits for Americans living abroad will be paid fully in green dollars, given their supreme need for exchangeable dollars. This idea, if rightly managed by the U.S. Government, will put the Nation in the driving seat economically for centuries to come! With this post I present my "Equivalent Money" plan for the world to the view of the world economy leaders. The new supplementary world "currency" should be color "mountain bells' violet", which is the color of God. It should resemble the dollar, including in value, but it would be non-redeemable and non-exchangeable. It would have strictly bartering value, being thus a godsend to the economies of the poorer countries. It would be somewhat like the foods stamps, but not it at all. It would have a bartering value in the sense that those who have it, could exchange it for goods all over the world. It would be added to the budgets of all the nations in the world as a new tool to confront unemployment, national debt escalation, rebuilding of infrastructures, desalinization plants, and poverty. It should be added in adequate amounts according to a fair formula, doubling if need be national budgets. Nations, anyone for that matter, could then hire workers, to produce goods that others need, and to pay their salaries partly in Equivalent Money, including the Social Security deposits. The doctors could accept this currency in payment for of services, and then purchase new equipment with this "new" money. This would revolutionize Medicare and Medicaid. No armaments could be purchased with the Equivalent Money, since it is destined to be a tool of universal peace and prosperity! No one will loose a penny with this idea, no individual, and no nation! The "currency" is the only solution for the future world economies! It will revolutionize the world, bringing new hope to all nations, including the poorest! The poor nations could hire expert workers, and pay them in Equivalent Money, which the latter could then barter for whatever they need anywhere in the world. I believe that the time is now to enact this idea without delay! It will hurt no one, but it will change the world as we know it, for ever! I ask the leaders of the world not to discard my idea, but to give it serious consideration.

    August 24, 2012 at 9:25 pm |
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Quest Means Business airs Monday to Friday, 1600 New York and 2100 London, and is hosted by Richard Quest.

 

 

 
 
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