[andrew_eu]

I think it's of course not so simple, and the abstract of the paper they refer to [0] seems to contradict the Business Insider article. Sure, inflation adjusted median income is up slightly. In addition to this educational costs have exploded, and to earn a median salary it has become necessary to buy in. People under 30 have greater inflation adjusted income, but this is because they rely more on their (boomer) parents. The overall wealth in society has increased dramatically, but the vast majority of gains are going to the outliers.

That is to say, the real conflict isn't between boomers and millennials, it's between billionaires and everyone else. But generational friction is not new, a more common experience, and easy to exploit in media.

0: https://www.federalreserve.gov/econres/feds/files/2024007pap...

[someone7x]

Thanks for the paper.

It starts boldly by redefining the “american dream” into “line must go up” which ironically sounds like boomer logic being projected onto millennials.

I don’t know about the Fed but my dream as an American isn’t to accumulate more wealth than my parents.

Fwiw, the American dream in my neck of the woods is financial independence from landlords and bosses.