The Theft of a Decade: How the Baby Boomers Stole the Millennials' Economic Future

The Theft of a Decade: How the Baby Boomers Stole the Millennials' Economic Future

by Joseph C. Sternberg


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A Wall Street Journal columnist delivers a brilliant narrative of the mugging of the millennial generation— how the Baby Boomers have stolen the millennials' future in order to ensure themselves a comfortable present

The Theft of a Decade is a contrarian, revelatory analysis of how one generation pulled the rug out from under another, and the myriad consequences that has set in store for all of us. The millennial generation was the unfortunate victim of several generations of economic theories that made life harder for them than it was for their grandparents.

Then came the crash of 2008, and the Boomer generation's reaction to it was brutal: politicians and policy makers made deliberate decisions that favored the interests of the Boomer generation over their heirs, the most egregious being over the use of monetary policy, fiscal policy and regulation. For the first time in recent history, policy makers gave up on investing for the future and instead mortgaged that future to pay for the ugly economic sins of the present.

This book describes a new economic crisis, a sinister tectonic shift that is stealing a generation's future.

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Product Details

ISBN-13: 9781541742369
Publisher: PublicAffairs
Publication date: 05/14/2019
Pages: 288
Sales rank: 1,166,922
Product dimensions: 5.90(w) x 9.20(h) x 1.20(d)

About the Author

Joseph C. Sternberg is editorial-page editor and European political-economy columnist for the Wall Street Journal's European edition. He joined the Journal in 2006 as an editorial writer in Hong Kong, where he also edited the Business Asia column. Born in 1982, he lives in London.

Table of Contents

Introduction: Taking a Bite Out of the Big Avocado of Life 1

Chapter 1 The Young and the Workless 25

Chapter 2 Not Our Parents' Job Market 45

Chapter 3 Human-Capital Punishment 75

Chapter 4 Millennius Domesticus 109

Chapter 5 The Saturday-Morning Bank Heist 145

Chapter 6 Their Present, Our Future 177

Chapter 7 Millennial in Charge 211

Epilogue: Hiding in Plain Sight 237

Acknowledgments 239

Notes 241

Index 265

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