Millennials: The lost and found generation

from David Ruccio

The other day I presenting a chart indicating that young people today—facing declining incomes, soaring debt, and higher rates of unemployment than any other group—represent a lost generation.

Then along comes Peter Beinart [sm: db] to argue that young people may also be finding a new politics, a set of political ideas beyond both Reaganism and Clintonism.

America’s youngest adults are called “Millennials” because the 21st century was dawning as they entered their plastic years. Coming of age in the 21st century is of no inherent political significance. But this calendric shift has coincided with a genuine historical disruption. Compared to their Reagan-Clinton generation elders, Millennials are entering adulthood in an America where government provides much less economic security. And their economic experience in this newly deregulated America has been horrendous. This experience has not produced a common generational outlook. No such thing ever exists. But it is producing a distinct intragenerational argument, one that does not respect the ideological boundaries to which Americans have become accustomed. The Millennials are unlikely to play out their political conflicts between the yard lines Reagan and Clinton set out.

Beinart does recognize that economic hardship does not always push people to the Left. But he does provide some evidence that Millenials may be charting a new political path:

It is these two factors-their economic hardship in an age of limited government protection and their resistance to right-wing cultural populism-that best explain why on economic issues, Millennials lean so far left. In 2010, Pew found that two-thirds of Millennials favored a bigger government with more services over a cheaper one with fewer services, a margin 25 points above the rest of the population. While large majorities of older and middle-aged Americans favored repealing Obamacare in late 2012, Millennials favored expanding it, by 17 points. Millennials are substantially more pro-labor union than the population at large.

The only economic issue on which Millennials show much libertarian instinct is the privatization of Social Security, which they disproportionately favor. But this may be less significant than it first appears. Historically, younger voters have long been more pro-Social Security privatization than older ones, with support dropping as they near retirement age. In fact, when asked if the government should spend more money on Social Security, Millennials are significantly more likely than past cohorts of young people to say yes.

Most striking of all, Millennials are more willing than their elders to challenge cherished American myths about capitalism and class. According to a 2011 Pew study, Americans under 30 are the only segment of the population to describe themselves as “have nots” rather than “haves.” They are far more likely than older Americans to say that business enjoys more control over their lives than government. And unlike older Americans, who favor capitalism over socialism by roughly 25 points, Millennials, narrowly, favor socialism.

Maybe, then, there is something to cheer as the lost generation is allowed to find its own political bearings.