Recession Mentality

From the Freakonomics Blog:

If you’re wondering how the recession is affecting today’s young adults, a new paper (abstract only) by Paola Giuliano and Antonio Spilimbergo may have the answer. The authors found that people who grew up during a recession “tend to believe that success in life depends more on luck than on effort, support more government redistribution, but are less confident in public institutions.”

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Gene Healy wrote about the

Gene Healy wrote about the millenials' support for big government a few months back. The thing to note is that even young people who didn't grow up in a recession are big fans of the interventionist state. One of the surveys he cites is from 2008, (probably) before news of the recession became widely known among the demographic most likely to be "news grazers."

The worst kind of welfare state supporter is the kind that has no trust in govt institutions but wants them to exist anyway. Sounds like a recipe for cynicism and corruption.

Spoiled is as spoiled does

Millenials are used to being pampered and taken care of .. that they would want the government to take over where their parents left off is no surprise.

Someone has to study this?

"Do generations growing up during recessions have different socio-economic beliefs than generations growing up in good times?" Anyone who isn't pot-dead should instinctively understand.

Americans who grew up during the depression and survived the Big War benefited from the post WW2 good times. All of them except My Old Man decided that their kids would have the stuff they missed out on. Their kids produced the Hippy/Vietnam generation from which we have never recovered.

My parents and grandparents so indoctrinated me with their depression hard times that I have lived for 50 years "penny wise and pound foolish." Last ten years I have recovered but the first 50 put me in good shape for the hard times we will have until WW3.

My kids never unintentionally missed a meal and think that the VietNam War is ancient history but they all got a good education, learned to be good neighbors, and will do OK. The grandkids will grow up thinking that hard times are normal, which they are.