Europe's generational divide: How baby boomers' wealth has come at the expense of younger generations
By
The Economist
A snack-sized bagel for a snack-sized appetite.
Summary
The article discusses how economic inequality in Europe has shifted from a horizontal (West vs. East) divide to a vertical (generational) divide. It argues that the large baby boomer generation has benefited from favorable economic conditions—rising house prices, low taxes, generous pensions—while leaving younger generations (millennials and Gen Z) struggling with unaffordable housing, stagnant wages, and fewer opportunities. The piece highlights how boomers accumulated wealth through property and pension systems that are now unsustainable for the smaller younger generation to support.
Key quotes
· 3 pulledYoungsters unable to move out of their parents' spare room due to sky-high house prices wonder if they will ever enjoy the lifestyle as adults
The huge rock 'n' roll generation is sticking its few kids with the bill
These days inequality in Europe has a vertical dimension—one that goes up and down family trees
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