Why is “millennial socialism” on the rise? Because liberalism is failing — Lea Ypi

Should be "neoliberalism" instead of "liberalism."

Good article on the paradoxes of liberalism.

New Statesman
Why is “millennial socialism” on the rise? Because liberalism is failing

Lea Ypi | Professor of Political Theory at the London School of Economics and Political Science

Zero Hedge Millennials Are Now Considered The "Lost Generation"

Lost economic and financially, that is.

The Federal Reserve Bank of St. Louis published a new report examining the relationship between a person’s birth year, and measures of his or her family’s economic status, including income and wealth. Fed economists determined that substantial wealth declines were visible across the age spectrum around the Great Financial Crisis (GFC) but found that young families suffered the most.

Zero Hedge
Millennials Are Now Considered The "Lost Generation"

Tyler Durden

See also

Political impact?

Pew
Millennials projected to overtake Baby Boomers as America’s largest generation

Richard Fry

Emily C. Bell — Millennials and Capitalism Just Don't Mix

Data show rising dissatisfaction with economic status quo.

The millennial generation is the largest demographically, and it is poised to begin taking over power as the boomers start fading.

AlterNet

Millennials and Capitalism Just Don't Mix

Emily C. Bell

Julia Mead — Why Millennials Aren’t Afraid of Socialism

So we will be the opposition—but we’re not starting from scratch.... Heterodox economists like Ha-Joon Chang, Mariana Mazzucato, and Stephanie Kelton are reshaping their discipline.

Julia Mead is a 22 year old.

The Nation
Why Millennials Aren’t Afraid of Socialism
Julia Mead

Kollibri Terre Sonnenblume — Dear Fellow Gen Xers: Let’s Step Aside for the Millennials

Here’s some details about the Millennials (sources listed at end of article):

• 43% non-white

• Best educated generation in US history

• Only 1/4 are married; 44% say that marriage is becoming obsolete

• More tolerant of races and groups than older generations (47% vs. 19%)

• Less religious

• Views of media growing more negative

• 61% “worried about the state of the world and feel personally responsible to make a difference”

• 92% “believe that business success should be measured by more than just profit”

• 83% “agreed with the statement, ‘there is too much power concentrated in the hands of a few big companies,’” which is higher than all other generations

• 64% “would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring”

• 88% “prefer a collaborative work culture rather than a competitive one”

These are helpful characteristics and admirable traits for the challenges that face us. By 2020, Millennials will make up 40% of the electorate so we could be in for a big shake-up…

Counterpunch
Dear Fellow Gen Xers: Let’s Step Aside for the Millennials
Kollibri Terre Sonnenblume

Catherine Rampell — Millennials are increasingly rejecting voodoo economics

Younger people no longer drinking the Kool-Aid?

The Washington Post
Millennials are increasingly rejecting voodoo economics

Catherine Rampell
ht Mark Thomas at Economist’s View

Jeff Desjardins — The Top 10 Millennial Brands [Charts]

Visual Capitalist

The Top 10 Millennial Brands [Charts]
Jeff Desjardins

David F. Ruccio — Generation screwed

Millennials aka Generation Y feel the socio-economic burn and therefore the political Bern. Many of them are angry at what they view as screwed up world foisted on them by people they disrespect.

It's too early to tell much about things will turn out for Generation Z. Generation Z is something of a wildcard, being digitally native and socially networked, as well as multicultural and inclusive along with highly diverse. How this unique background will interact with their opportunities and challenges is yet to be seen.

These generations are poised to become the engines of change.

Occasional Links & Commentary
Generation screwed
David F. Ruccio | Professor of Economics, University of Notre Dame

J.D. Alt — Opportunities of a Millennium (Part 1)

Viewed through the ideology of money-scarcity, the major challenges facing society appear to represent “costs” that people must be penalized to pay by taking dollars out of their personal pockets. At one level, politics is the endless and bitter argument of one party proposing to do X, Y, or Z in order to accomplish some collective benefit, and the other party saying: Yes, but how are you going to pay for it?—which is the “gotcha” question because everyone certainly “knows” that in order to actually do X, Y, or Z, the federal government will have to increase taxes or borrow dollars from the Private Sector pot. Understanding modern fiat money (and how to manage it as a collective tool) creates, as we now understand, a remarkably different and more useful perspective. With this new perspective, as we’re about to see, many of the biggest challenges we face as a collective society can be viewed not as a “cost”—a penalty to be paid—but instead as an enormous opportunity to make our lives, both collectively and individually, more effective and prosperous. Confronting these challenges, in other words, will not take dollars out of our personal pockets, it will—in addition to hopefully overcoming the challenge addressed—put dollars into our pockets. This, in essence, is the uniquely empowering perspective that modern fiat money makes possible.

To see the power of this perspective in concrete terms, let’s explore four of the major dilemmas the Millennials will surely be facing as they come into power....

New Economic Perspectives
Opportunities of a Millennium (Part 1)
J.D. Alt

Alan Smith — Why millennials pulled a disappearing act on Election Day

Younger voters aren't disengaged. Their faith in our institutions is at an all-time low, and with good reason…

I’m not going to spend time trying to debunk the notion of Millennials as lazy or disengaged. I don’t buy those narratives, either anecdotally or statistically, but what’s important today is that we’ve seen the confirmation of a very dangerous trend: this moment of low turnout is perfectly in line with an all-time low in people’s faith in our institutions of government.  If what we want from voting is for people to engage more with the rules that govern their lives, we need to make the process of engaging much more meaningful that what currently passes as voting.

Saalon

Why millennials pulled a disappearing act on Election Day
Alan Smith, Next New Deal

Zero Hedge — Meet The Millennials: All You Ever Wanted To Know About America's Youth, In Charts

Catching up with youth. A big generation not doing so well. This bodes ill macroeconomically for their passage through the stages of life. The boomers were a force for rising prosperity. It looks like the millennials are going to be a drag.

Zero Hedge
Meet The Millennials: All You Ever Wanted To Know About America's Youth, In Charts
Submitted by Tyler Durden

Josh Eidelson — Tea Partiers V. Millennials: Why the Far Right Disdains Young People, Even Their Own Kids

Sociologist Theda Skocpol explains what drives the angry right, and what to expect next from them.

The past weeks’ showdown in Washington, D.C., has shocked and perplexed some observers. Theda Skocpol was not among them. Skocpol, a veteran Harvard professor, is the author of books on topics ranging from the politics of the U.S. welfare state (Protecting Soldiers and Mothers) to the state of grassroots political engagement (Diminished Democracy), and of the definitive social science tome on the Tea Party (The Tea Party and the Remaking of Republican Conservatism, with Vanessa Williamson).

With the immediate debt ceiling/shutdown showdown coming to a close, Salon called up Skocpol Wednesday to discuss how the media misunderstand the Tea Party, how an unpopular movement can move so many members of Congress, and why the right hates Obama’s moderate healthcare law so much. What follows is an edited and condensed version of our conversation.

Salon
Tea Partiers V. Millennials: Why the Far Right Disdains Young People, Even Their Own Kids
Josh Eidelson

New trend in housing developing — urbanization

Suburbs are so 20th century. Here's why so many of us are moving back downtown.

Just after the close of World War II, the last Great Migration in the United States — the move from the city to the new suburbs — began to emerge, fueled by new roads, low congestion, and modest energy costs. It was a new beginning, a chance to shake off the past, and it came complete with the promise of more privacy, more safety, and easier financing. 

Not surprisingly, Americans bought in.

After that, it didn’t take long for the preferred retailers to do likewise, abandoning the city and following their customers to the suburbs. The suburban single family home on a large lot became synonymous with the American Dream.

After 60 years, many commentators have announced that the American Dream is poised to make its next great shift — this time from the suburbs to the urban core of our cities. Indeed, at the recent New Partners for Smart Growth Conference in San Diego, Chris Nelson, Joe Molinaro and Shyam Kannan made it clear that a radical shift in preferences is on the horizon.

They’re not alone in that position.

Just last week, Robert Shiller of the Standard & Poor’s/Case-Shiller Home Price Index made the dramatic statement that, with our growing shift to renting and city living, suburban home prices may never rebound in our lifetime.

Why such pronounced findings? According to researchers, it lies in the preferences of our largest generation since the Boomers, the under 30 Generation Y.

But, why?

Read the rest at AlterNet
How Millennials Are Driving The Great Migration of the 21st Century
by Nathan Norris | Placeshakers and Newsmakers

Millennial generation expected to support Obama two to one

There are 95 million members of the “millennial generation” [born circa 1980-2000] in the United States, making them the largest generational cohort in the United States, and those who are eligible to vote next fall can be expected to support President Obama by a margin of two-to-one as they did in 2008.

That is the opinion of two rather older observers of that generation, Morley Winograd, a former senior policy advisor to Vice President Al Gore and director of the national Partnership for Reinventing Government, and former Democratic pollster Michael D. Hais. The two men are the co-authors of Millennial Momentum: How a New Generation is Remaking America.

Read it at Raw Story
Observers of ‘millennial generation’ expect them to come out for Obama

by Muriel Kane

But here's a study calling that view into question somewhat and explaining why so many millennials are proponents of Ron Paul or supporters of Occupy:

After analyzing 40 years of data on approximately 9 million young adults, researchers have found the so-called Millennial generation to be less environmentally conscious, community-oriented and politically engaged than previous generations were at the same age, according to a new study 

Compared to baby boomers and GenX'ers when they were young adults, Americans belonging to the Millennial generation -- those born after 1982 -- consider money, image and fame more important than values like self-acceptance and being part of a community, according to the study published March 5 in the Journal of Personality and Social Psychology.

The study found that millennials were less interested in donating to charities, participating in politics or helping the environment. The results support the so-called "Generation Me" theory over the "Generation We" description often used in reference to today's young people.

Millennial Generation Money-Obsessed And Less Concerned With Giving Back, Study Finds
Read the rest at the Huffington Post

Millennials' expectations

Success for my generation will be a shift from business as usual to something that economist Umair Haque calls "Betterness" and environmental leader Billy Parish calls "Making Good." Parish recently teamed up with non-profit leader Dev Aujla to release a book called Making Good: Finding Meaning, Money and Community in a Changing World that outlines how people can make money AND make an impact. The book goes a long way towards creating a new roadmap for young people to follow.

The transition from climbing the ladder of unfulfilling societal expectations and consumerism to blazing a trail with a life guided by a holistic focus on well-being, community and sustainability won't be easy. But, as we lie dreaming under the glow-in-the-dark stars of our childhood room, we know that it's at least one dream worth fighting for.

Read it at The Huffington Post

Happiness Is the New Success: Why Millennials Are Reprioritizing

by Lisa Curtis

How widespread this view is we are going to find out as expectations become reality. This could have profound implications for the US economy if it more than a limited perspective.

Related factoid: ~ 10 K people a day turning 65. The boomers are entering the final stage of passage. That, too, has enormous implications.

Electric cars "in"

Lusting for a Lamborghini or Bentley? Not if you grew up listening to the Backstreet Boys and winning trophies for, umm, everything. A new survey finds that most Gen Y consumers (a k a “Millennials”) have a high affinity for green, eco-friendly vehicles versus any other type of car.

Researchers at Deloitte found 59% of Gen Y respondents preferred alternative power. Hybrid gasoline-electric vehicles won over 57% of respondents, and pure battery electric vehicles got 2% of the vote; by contrast, vehicles with a traditional gas-only power train were preferred by only 37%.

Contrary to stereotypes, this young generation seems to know a good value when it sees one: Fuel efficiency is the biggest appeal. In fact, close to half (49%) of Gen Y customers are willing to pay an extra $300 for each mile per gallon of improvement they can get out of a hybrid, according to Deloitte.

Read the rest at CBS MOneyWatch

Survey: Young drivers prefer electric cars

by Farnoosh Torabi

More generational change in the works. Get out of the ways, pops.

BTW, desktops are now called "grampa boxes," I'm told.

Disclosure: I am working on a laptop, a MacBook specifically (with an additional large screen) and haven't had a desktop in years. But an iPad? I couldn't wait until Apple came out with a Mac with a bigger screen than the old nine inch built-in. I should go back now?