Joel Kotkin, Presidential Fellow in Urban Futures at Chapman University in Orange, California, and Executive Director of the Houston-based Center for Opportunity Urbanism, has written a piece for the Daily Beast, The Screwed Generation Turns Socialist. He devotes three paragraphs in the article to Generation X; however, the “screwed” generation he believes is turning socialist is the Millennial Generation.
The birth years for the Millennials (previously called Generation Y) are, by broadest definition, 1982 to 2004. (Please note: Some demographers, historians and other experts in generational theory believe Generation Z, which comes after Millennials starts in 1995.)
Are Millennials turning socialist?
Here are some of the points Kotkin makes about Millennials and socialism:
- Liberal on issues like gender and gay rights, immigration and marijuana legalization
- 40 percent of Millennials come from minority groups
- Millennials favor large government
- Millennials vote 60 percent Democratic; however,
- Millennials face worse economic conditions than any generation since the Great Depression
- About half of all Millennials have positive views of socialism
The article has much more to say about the politics of Millennials including numerous statistics that should be of interest to the electorate, especially those working for and with the government sector.
Here is the part about Generation X:
Xers: Long-time outsiders but soon the next power generation
Smaller than the boomers, and generally less privileged, the X generation—born between 1965 and 1981—gets short shrift among advertisers as well in the media, but seem poised to take power by the end of the decade. Numbering more than 65 million, they are a smaller generation than the boomers but they are slowly gaining control of politics, with 117 members in Congress compared to just five for millennials. They already dominate the leadership of the GOP. Paul Ryan is their poster boy.
“Today, the Xers, many already in their fifties, have only 14 percent of the nation’s wealth, a relative pittance compared to the boomers. But by 2030, as the boomers finally start to fade from the picture, Xers should account for 31 percent of the nation’s wealth, twice the percentage for the millennials. Critically, the heads of most companies backed by venture capital come from this generation, according to the Harvard Business Review. Raised largely during the neo-conservative heyday of Reagan, George H.W. Bush, and Bill Clinton, Xers also dominate the ranks of managers at major companies.
“Yet at the same time, they have faced a rockier economic ride than the boomers, suffering particularly in the 2007 housing crash. The percentage of Xers who own their own homes dropped far more precipitously compared to the more entrenched Boomers The impact was particularly tough on younger Xers, who often got into the market around the housing bust.