We’ve all made silly mistakes, and recently I made one while trying to keep things brief. I mentioned that California has no sales tax — when in fact, it does. Quite a high one, actually. What I meant to say was that California has lower effective sales taxes compared to other states like Texas or Florida, thanks to its broad exemptions. Still, I’ll own the mistake.
But speaking of things that shouldn’t have happened… let’s talk about Generation Z.
A Time of Unmatched Abundance — But Not for Everyone
We live in a time of immense prosperity. The last decade alone has produced more goods and services globally than the previous 5,000 years of human history combined. Technology has made our lives better in almost every measurable way: health, access to knowledge, convenience—you name it.
And yet, this wealth isn’t being shared evenly.
For most of history, parents assumed their children would live lives similar to theirs. Change was slow. Societies focused mainly on survival. But then came the Industrial Revolution, and everything changed. With technology advancing and innovation booming, people expected each generation to live better than the last.
That assumption held true for nearly 200 years—until now.
The Intergenerational Bargain Is Cracking
For the first time in modern history, the promise of a better future for younger generations is at risk. Gen Z—those born between the late 1990s and early 2010s—are struggling to hit the same milestones their parents achieved at the same age.
Think about it:
- Buying a home? Nearly out of reach.
- Getting married? Delayed or deprioritized.
- Starting a family? Postponed.
- Launching a business or planning retirement? Rare and risky.
In most measurable ways, Gen Z is lagging behind. And while it’s tempting to blame them—"they just need to work harder!"—that kind of thinking misses the bigger picture.
Why It's Not Just a Gen Z Problem
Here’s where I say something controversial: even Baby Boomers are victims of this shift—just to a lesser extent.
It’s easy to get caught up in generational blame. Boomers get labeled as greedy, Millennials as lazy, and Gen Z as sensitive. But these labels don’t help us understand what’s really happening. Instead, we need to ask: what’s changed systemically?
Here are some of the biggest culprits:
- Housing prices have skyrocketed way beyond wage growth.
- Education debt is crippling younger generations.
- Job security has taken a hit with the rise of gig work.
- Inflation is outpacing savings for many.
So no, Gen Z isn’t “failing.” The system has changed, and not in their favor.
The Problem with Generational Labels
Let’s pause here for a second. These generational labels we toss around—Gen X, Millennials, Gen Z—are often arbitrary.
Take Millennials, for example. Technically born between 1981 and 1996, but someone born in ’81 had a totally different childhood and economic reality than someone born in ’96. They entered the workforce under different conditions, faced different tech trends, and reacted to completely different world events.
The only group that’s somewhat concrete is the Baby Boomers, since their name literally comes from the birth surge post-World War II. Everyone else? It’s mostly just neat marketing lines.
So while it's easy to talk about Gen Z vs. Boomers, it’s better to understand the economic forces affecting everyone—albeit in different ways.
A Word on Communication: Clarity Matters
Quick break here—because as someone who talks about economics, policy, and taxes, let me tell you: clear communication matters. That’s why I use tools like Grammarly. Whether it’s writing scripts, clarifying tone, or tightening up arguments, it helps keep things smooth.
If you're writing online or working with complex ideas, Grammarly is like having a writing buddy who never sleeps (but doesn’t steal your snacks). Try it out if you haven’t.
Can We Fix This?
So, where do we go from here?
There’s no silver bullet, but some changes can help level the playing field:
- Reform housing policies to make homes affordable again.
- Rethink student loan systems and reduce debt burdens.
- Encourage stable employment over gig-based precarity.
- Improve financial literacy in schools and colleges.
And most importantly, we need to move away from generational blame games. Boomers didn’t “ruin the economy,” and Gen Z isn’t “lazy.” We’re all navigating a rapidly changing world—and working together is the only way forward.
Final Thoughts
The world is more connected, informed, and advanced than ever before. But with that progress comes complexity. Gen Z isn’t falling behind because they want to—it’s because the game they’re playing has changed.
Understanding that—and focusing on the real issues—is how we build a better future for everyone.