> One theme we've discussed is that many important institutions in our society (eg education, healthcare, housing, efforts to combat climate change) are still run primarily by boomers in ways that transfer a lot of value from younger generations to boomers themselves.
I do not understand the reason for assuming any successive group of old leaders to behave differently than boomers?
Millenials are going to have an even more disproportionate old age population, and presumably will seek to squeeze the younger generations even more than the boomers:
The era you experienced growing up can influence how you are when you get older quite a bit. The generation before the Great Depression tried to create a more progressive equitable world but of course that was eroded eventually. Everything goes in cycles and the next generation coming that experiences the fallout from all our recent excesses will be different as well.
Interesting perspective. Anecdotally, the people I met who lived through it were traumatized into a scarcity mentality and would spend the rest of their lives hoarding anything and using it to gain a sense of control. Certainly FOX news knew how to get to them with fear, formative fear.
The key parameter that has changed all over the world is there are more net benefit recipients than net payers in (i.e. far more old people relative to young people).
By far, the largest wealth transfer that happens is young to old, via defined benefit pensions (such as social security), healthcare, and asset price increases (via decreases in purchasing power of the currency).
In a democracy, most voters will vote for these policies, because most voters are or will soon be beneficiaries of these policies. I am betting that Millenials, once they are in their 50s, will continue voting for the same policies that Boomers have for the past 20 years, since they will have the same incentives.
Also much more addicted to service economy with little survival and self sufficiency instincts.
Anecdotally, very briefly dated a 40 year old who claimed she only ever cooked boxed food; had never even baked or microwaved a potato. Her words!
They’re the Gizmodo and Ars Technica journalist crowd exploiting slave labor while bitching about social justice. The 1984 double speak is strong with them.
America is a passive investor society. Like Trump thinking factories will just appear because he wishes it, Millennials wish to be enriched without giving a shit about externalities.
I base this entirely off their actual effort on the ground. Their "thoughts and prayers" may be cranked to 11, but my lived experience is they're even more disconnected from obligation to themselves than Boomers and GenX who at least spent some part of their life solving their ground truth problems.
They prefer socialism (which I am not against) because they realize they're screwed as individuals, they need help. Many probably expect they'll be served by it, not serving it.
I do not understand the reason for assuming any successive group of old leaders to behave differently than boomers?
Millenials are going to have an even more disproportionate old age population, and presumably will seek to squeeze the younger generations even more than the boomers:
https://www.populationpyramid.net/united-states-of-america/2...