Biases are not random: they are a result of an environment. When an entire generation is exposed to the same trauma
around the same time, it can define that generation and give it a unique
identity.
The children of the Great Depression were born and raised in
a time of hardship, where their wants were often compromised. Poverty stricken
families often pulled their children from school and tried to find them work.
Children were forced to grow up fast, many had a mere 4 year of childhood
before they were expected to contribute to the family. They went without food,
shoes, clothing, heat, and other staples. As these children grew older, they
vowed never to put their own children through such a grueling childhood.
In turn their children grew up with a sense of entitlement. They
had been given everything, and so they grew up expecting everything. This “baby-boomer”
generation came up during the post WWII era, when the US had no competition to
speak of and every sector of our economy was in rapid growth. Many families at
this time saw the American Dream come to life before their eyes. When they
worked hard and saved, they were able to achieve a very comfortable lifestyle.
Fast forward to 2011. More children than ever are attending
college. The value of education has been drilled into them by their parents and
teachers (members of the baby-boom generation), but perhaps less emphasized was
the debt burden that would come along with the 4-year degree. Two-thirds of
bachelor’s degree recipients graduated with student-loan debt in 2008, compared
with less than half in 1993. Last year, graduates who took out loans left college
with an average of $24,000 in debt. But the real kicker is that today’s
graduates are having a harder and harder time finding a job. A larger
percentage of recent graduates are un- or under- employed today than at any
other time in the past 50 years. With mounting debt and no traditional income
to pay it off, this generation I going to have to face unique challenges.
Unique challenges give rise to a unique outlook.
How will chronic unemployment, student debt, and the Great
Recession impact this generation? I plan to make some predictions, but first I
want to hear yours! Comment below, and share your thoughts.
