Yesterday and tomorrow: a grandson, just a generation apart from his grandfather, will face a far different life from his elder in terms of obstacles and opportunities.(GLOBAL ECONOMY)

My dad is one of the last remaining of a fading American breed. He came from an era where the average Joe didn't go to college and, in the practical sense, didn't really need to. Besides, college was for the wealthy. Most guys living in America's industrial belt graduated high school, served their country, and took a job at a local factory or small business. It was them they received their apprenticeship or "career education." The benefits were usually good, and opportunities for promotion were plentiful. Employees who had a knack for their line of work steadily rose through the ranks. Those who didn't were mostly those content in what they were originally hired to do. Certainly, these employees weren't obsessed with striving for great affluence, but neither would they lack the income to make way for more important things--such as spending time with the wile and kids.

Growing up with four siblings, I don't ever recall being in need. We lived in a humble three-bedroom house. Our family did fun things like going to the park, swimming in the lake, and cooking out. By default, my morn, typical of her generation, took the full-time job as a stay-at-home mom. I had no clue that she spent countless nights lying awake in bed, fretting over how to pay the bills. Yet, without a credit card, she managed to make ends meet, she and millions of other middle-class Americans like her. They were uncomfortable with debt, and usually, the only kind they incurred was from purchasing a big piece of the American dream--a home. Now, my aging parents recall those "difficult times" with a wistful smile on their face. A smile? About such hardships?

They tell me times are different. But living in the midst of them, it's difficult for me to see the difference between yesterday's ...