There's this continuous drumbeating that we need to produce more scientists and engineers. So I went and got a PhD in Physics.
By the time I got my PhD, the American Physical Society announces that they estimate that 3% of my graduating class would get permanent jobs in their field.
So, the physics PhD mill encourages a few thousand of our brightest young people every year to spend 5-9 years of their youth getting a credential that's worth less than a roll of toilet paper. (At least you can wipe your ass w/ a roll of toilet paper)
At least I got an all-expenses-paid vacation in Europe for a year (a postdoc,) but I drifted for another three or four years afterwards before settling on a somewhat remunerative and satisfying career.
This sort of experience, where you're set up to fail, but made to feel like it was your own fault, can have a devastating effect on a person. I've mostly healed from it now, but so often I have to answer questions like "Why aren't you teaching?" and "Aren't you too smart to be a computer programmer".
The older generation does owe the younger generation realistic guidance and training to start careers and keep society running. When it sets up machines to chew up young people and spit them out, it wrongs them.