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The US reached another demographic milestone with the birth of its 300 millionth inhabitant last week. In an excerpt from his upcoming book, Debonair money columnist Vikram Rajan examines the present-day impact of the nation’s most populous age group.
When our parents jokingly complain that we’re spoiled, they couldn’t be more right. When we think we’re working hard, we might be forgetting about the past, where our parents laid the groundwork for our way of living.
The Baby Boomer Generation conceived from an Allied World War II victory shaped economics and culture with revolutionary logic and action. The 2000 US Census accounts for approximately 82,826,479 American Baby Boomers—the largest generation in the nation’s history.
Now, as those 82 million-plus Americans start collecting Social Security and retiring, the cream of our crop—the Baby Boomers’ offspring—must pay attention to what’s coming. Simple math shows we will have the opportunity to assume duties in more than four million high-level business positions per year during the next two decades.
Arlene Dohm, a leading economist with the US Department of Labor and their Bureau of Labor Statistics, recognizes the ramifications of this exodus in her report, “Gauging the labor force effects of retiring baby-boomers”:
“As aging baby-boomers begin retiring, the effects on the overall economy and on certain occupations and industries will be substantial, creating a need for younger workers to fill the vacated jobs, many of which require relatively high levels of skill.”
To stand out from the masses and land one of the ample jobs, young professionals and aspiring businessmen will need to develop the combination of individualism and intellect that allowed the Baby Boomers to establish what we know today. We must project a personal brand to follow in those footsteps.
Those of us who have successfully launched our personality in business and life will inherit the greatest prizes. In our present-day world, we must understand how to utilize each of the Baby Boomer Generation's Top Five Gifts:
5. YOUTH REVOLUTION
The Baby Boomer generation fundamentally shifted our country’s paradigm with its introduction of the Generation Gap culture. They led the Civil Rights and Women’s Liberation Movements. They also created a generation of embarrassed and hypocritical parents: a recent Partnership for a Drug-Free America public service announcement features a voice-over, I paraphrase: “Most kids experiment with drugs in college . . . Your dad went to college . . . Maybe he knows more about drugs than you think. Ask him.”
They also globally showcased the power of youth culture. German youth “tore down the wall.” rhe Russians toppled their existing tyranny, and the Chinese demonstrated in Tiananmen. Jeans and rock ’n’ roll are still active and effective nonviolent dissent in totalitarian states. “Americanism” translates globally to “youth dominance.”
Today, Baby Boomers are desperately trying to hold onto their salad days. Plastic surgery, vitamins and drugs like Viagra have spiked in public demand. While previous generations (and civilizations) revered their elders’ wisdom, our society now bows to youthful exuberance. The hippie mantra was “Don’t Trust Anybody Over 30.” Now in their sixties, Baby Boomers look to us for the latest trends and our cool gadgets.
