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Boomers Versus Millennials

The new generation disrupts standard business models

The US economy is entering a critical new phase defined by tectonic demographic shifts rather than by changes in monetary policy. At the heart of this metamorphosis is the baby boomer generation, the offspring of the Second World War’s “Greatest Generation”, born mostly from the late 1940s through the early 1960s, and now heading into retirement. Filling their shoes is the generation that came into adulthood after the year 2000, known as millennials, who now have a larger presence in the US workforce than boomers.

Boomers defined the country from the 1960s, complete with their rock and roll revolution, civil rights movement, women’s liberation and war protests and the 1990s technology bubble, helping the US economy along the way to post some outstanding rates of growth. As the curtain falls on that era, the baton is passing to millennials, who grew up with advanced technology, embrace and thrive in social media, and are tracking a very different course.

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