Transcription
Woodstock, Vietnam, Beetle Mania, pensions, JFK, affordable housing. These are all things associated with the baby boomers. But what many people might be surprised to hear is that all of these things I just mentioned happened before half of this generation were even teenagers.
You see, the boomer generation spans an 18-year period. But the moments that shaped the boomer stereotype were mostly experienced by the first half of that generation. The second half was too young to participate, but at the same time too old to be part of the MTV generation. They are commonly called Generation Jones. And Generation Jones experienced a far different America. Gas lines, Watergate, the Brady Bunch, corporate culture, Yepies, economic collapse. And in this video, I want to tell the story of America's forgotten generation, the boomers who never really fit in to the boomer identity. And it all starts with understanding what makes them different from the boomers.
Chapter one, too young for the revolution. Throughout this video, we're going to compare the older boomers to Generation Jones. And so, whenever I say older boomers, I'm talking about people born from 1946 to 1953. And whenever I say Generation Jones, I'm talking about people born from 1954 to 1965.
Now, the boomer generation got their name from the baby boom that occurred directly after World War II. In the 20 years after the war, America averaged about 3.9 million babies born a year, which was up by about 1.5 million births a year. And this happened because America emerged from the war in a very unique situation. While the rest of the world was rebuilding, America became the world's manufacturing superpower. And this created an incredibly strong middle class where ordinary families were able to afford a home and live on a single income. And not to mention after such a hard war, people just wanted to live quieter lives and settle down. Many people started families. And the boomers were the generation born directly in this prosperity.
However, this is when our path starts to diverge because while older boomers were born at the beginning of this prosperity, Generation Jones was born at the tail end of it. And at first glance, that might not seem like a big deal, but the timing of their childhood would prove to be incredibly important because by the time America was experiencing social change, older boomers were old enough to participate, whereas Generation Jones were still kids watching from the sidelines, often through a TV screen. And that small distinction would shape almost every aspect of their lives.
Chapter 2, The Latch Keys. As America entered the 1960s, the country was beginning to change in ways that would profoundly shape Generation Jones. Because while the older boomers would become known for revolution and rebellion, Generation Jones would become known for something very different, independence. You see, by the 1960s, the structure of the household was beginning to drastically change. More women were entering the workforce, which made households move from one income to two. And this fundamentally shaped the different childhood that this generation would experience. Because while the older boomers often came home to stay-at-home moms, Generation Jones increasingly came home to an unsupervised household because both parents were off at work. And so this generation would become the first generation to be known as latch key kids. Kids who would go to school with house keys and a chain around their neck and come back to an unsupervised home. And when they got home, they were expected to make their own snacks, entertain themselves, and look after themselves until their parents returned from work. And this made them much more independent than their older boomer counterparts. They spent a lot of their childhood unsupervised. And in that unsupervised time, one thing that came to define them was television. They watched shows like The Brady Bunch, Room 222, and The Wheel of Fortune. Television was a central part of their childhood compared to their older boomer counterparts who experienced much of the cultural revolution firsthand. Generation Jones consumed culture through media. Granted, not all kids of this generation were latch key kids, but compared to generations of the past, this generation was far more independent, and that independence shaped their personality and worldview. And while television transformed Generation Jones, it continues to transform the way we work and communicate, making the world increasingly complex. And one tool that has helped me navigate this complexity is Whisper Flow, who is the sponsor of today's video. Whisper Flow is a voice-to-text tool that turns what you say into clean formatted text that's ready to send. I've always been a bit leery when it comes to voice-to-text tools because they can be very frustrating. They capture everything you say from ums to stutters and stop capturing the second you pause to think. But Whisper Flow is different. It cleans up your speech and formats it automatically. So, if I say, "Hey, Mrs. Kensington, my flight leaves at uh 4. No, no, it's 4:30 tomorrow and it lands at uh 6 6:30, so can you pick me up at 6:45 7? And don't forget to bring the Lenovo charger, two, no, three HDMI cords, the business cards, a clicker, and and what else? Uh some backup batteries for the Raleigh presentation tomorrow. Thanks, Austin." And just like that, it cleaned up my speech, formats everything correctly, and figures out the context of it. Whisper Flow makes it a lot easier and faster to respond to emails, messages, or jot down my ideas without constantly stopping to type everything out manually. And the best part is it is free to start. If you click on the link in my description, you can get one month of Whisperflow Pro for free. So go check it out. And thank you Whisperflow for sponsoring this video. But while the household was changing, so too was the country around them.
Chapter 3, the age of distrust. Now, although Generation Jones grew up in prosperity, by the time they were old enough to start understanding the world around them, that prosperity started to weaken. By the '70s, inflation reached double digits multiple times, eroding purchasing power. Unemployment began to reach record highs and Americans found themselves waiting in long gas lines during the oil crisis. For the first time in decades, many Americans began to question whether the future would actually be better than the past. And this all happened during their formative years. But it wasn't just the economy that was losing credibility. At this time, many Americans, for the first time in modern history, began to question if they could trust their own government. In 1972, the Watergate scandal exposed corruption at the highest levels of government, leading to Nixon's resignation in 1974. >> Therefore, I shall resign the presidency effective at noon tomorrow. In addition, by the '70s, America was deep in the Vietnam War, which became known as the living room war because graphic images and footages were being broadcasted directly into Americans homes through television for the first time. TV was changing how people experienced war, which started to create disapproval and distrust in government narratives. And so compared to previous generations who saw the government as a trusted authority, Generation Jones' first experience made them see it as untrustworthy. Which is another big difference between these two boomer subgroups. Older boomers thought to change institutions through activism, whereas Generation Jones increasingly saw institutions as corrupt or incompetent. And this growing skepticism would continue to follow them through adulthood just as America entered one of the most difficult economic periods since the Great Depression.
Chapter 4, entering adulthood in decline. Now the timing of these two subgroups' childhood would again prove to be incredibly important as they entered adulthood. The older boomers entered the workforce between 1964 and 1971, whereas Generation Jones entered between 1972 to 1983. And that decade difference would fundamentally alter their career trajectories. The older boomers were born at the height of American industrial dominance when unemployment got as low as 3.4% in 1969. Whereas Generation Jones entered the job market in the worst economic downturn since the Great Depression, where unemployment peaked at 10.8% in 1982. When older boomers were getting ready to buy their first homes, interest rates were around 5%. Whereas for Generation Jones, it peaked at 19% in 1981, locking them out of the housing market. When older boomers started their careers, inflation was relatively low, around 4%. But Generation Jones saw inflation as high as 13% right as they started to earn a wage. And when older boomers entered the job market, pensions were fairly common. Whereas Generation Jones were the first generation to navigate 401ks. Generation Jones inherited the expectations of post-war prosperity. But the second they entered adulthood was the second that prosperity started to disappear. In essence, they felt like they were at the last of the line. Because by the time they got to the front, the best jobs, cheaper homes, and the easy prosperity all went to the older boomers. But the economy wasn't the only thing that was changing. As they entered the workforce, the relationship between employers and employees was beginning to drastically change.
Chapter 5, the death of job security. Before Generation Jones started their careers, America was at its economic height where workers had more leverage than employers. So jobs provided security, good wages, and good benefits. But as they entered their careers, the job market was beginning to drastically change. Women and minorities were given more opportunities, drastically increasing the labor pool, while automation and outsourcing were eliminating many stable middle-class jobs. And the post-war economy was starting to slow down due to global competition. And so, right as they were entering the job market, the balance of power was beginning to shift backwards. Instead of employers competing for workers, workers were now competing for jobs. And with that power shift, employers were now able to set the terms of employment and wages began to stagnate. Pension plans were replaced by the 401k. Corporate culture became more aggressive and more value was put on shareholders. When Generation Jones were children, they were told that if you worked hard and stayed loyal, success would follow. But by the time they entered their careers, that advice didn't apply anymore. Once again, they were stuck at the end of the line. And by the time they got to the front, all the opportunities were gone. And with less credibility from their government and less protection from their employer, life started to carry a lot more financial risk. And the lesson this generation kept learning is that if you want security, you have to go out and get it yourself.
Chapter 6, the MI generation. All right, let's recap really quick. We have seen Generation Jones grow up when the home was fragmenting and became self-sufficient at a very early age. Then they came of age watching their government lose credibility. Finally, as they entered adulthood, the economy started to decline and companies quit valuing their employees. This is not the boomer story that has come to define this generation, but it's the reality that over half of them experienced. And because of that, compared to previous generations who focused on collectivism, Generation Jones started to focus on individualism. They increasingly learned that security was their responsibility. And so by the mid to late '80s, American culture began to celebrate personal success. We began to glorify ambition, wealth, and career advancements. It was no longer about changing society as it was with the older boomers, but it was about getting yourself as an individual ahead. As the iconic line in the 1987 movie Wall Street said, >> greed, for lack of a better word, is good. Greed is right. Greed works. And as this generation continued to get in their professional roles, we saw the rise of something called Yuppie culture, which stands for young urban professionals, which are people that are focused on careers, income, and status, showing the world that they were successful. In many ways, this corporate and yuppie culture reflected a generation trying to regain the stability that they didn't get in their childhood and early adulthood years. And as America grew more individualistic, we became obsessed with outward displays of wealth. The bigger home, the luxury cars, and prestigious careers became the symbols that you made it. And by the late 1990s, people were beginning to realize that this group didn't reflect the traditional boomer narrative. They weren't the Woodstock generation or the hippies or the anti-war activists. And so, cultural commentator Jonathan Pontell gave them the name Generation Jones for three reasons. First, Jones is a generic surname representing the overlooked person. Second, keeping up with the Joneses, symbolizing the competitive nature of the generation. And third, with the slang term jonesing, meaning yearning, as this generation never got the post-war prosperity they were promised. After spending their entire lives trying to build the stability that they never inherited, Generation Jones finally started to feel like they were having stability in life. But as they reached the peak of their careers, they would quickly be reminded that there are no guarantees in this world.
Chapter 7. The Great Validation. At the turn of the century, Generation Jones was reaching midlife at the ages of 35 to 46. And after navigating decades of change, they finally started to feel the stability and prosperity that they were promised in childhood. The housing market, the stock market, and the economy were booming. And because of that growth, many people were confident that the good times would continue and the bad times were behind them. And many people's actions showed it. Many people refinanced their homes thinking the values would only go up, upgraded their lifestyles thinking they could handle extra payments, and made long-term financial decisions as if prosperity would last forever. However, behind that growth that people experienced in the '80s and '90s was an uncomfortable truth. It was built heavily on debt and speculation. And in 2008, all of that prosperity came crashing down in the 2008 recession where millions lost their homes, the market crashed, and unemployment soared. And for Generation Jones, this happened in the worst possible time. Because in 2008, they were between the ages of 43 and 54, which was a particularly devastating time to experience an economic collapse because they were at their peak responsibility years and were forced to make drastic financial decisions that would permanently stunt them. They were at their peak earning years, stunting their careers as the economy collapsed, and at their critical years leading up to retirement, giving them less time to catch up. But to them, this moment validated everything that they had learned up to this point. Stability was temporary. Institutions could fail. Corporations would protect their own interests. And even after decades of doing everything right, the rug could still be pulled from underneath you. And in the years that followed, the horizon that they hoped for would continue to drift further and further away.
Chapter 8, the endless horizon. For this generation, the 2008 recession was really the great reset. Many people expected to enter that phase of life with the most comfort and stability. But for many, they were left picking up the pieces. Many struggled to continue building their careers as jobs were scarce and they were past the age of being desirable. So they either never went back to their field or took lower paying roles. And at the same time, many had to financially assist their kids who too were struggling to enter the job market, giving them more financial obligations. And many struggled to rebuild what they lost. And unlike many older boomers who retired with some pensions, Generation Jones was the first to navigate 401ks. And once again, their birth years would impact their retirement outcomes. In 1983, the government gradually raised the full retirement age from 65 to 67 for people born after 1960. So for some people of Generation Jones, that meant working longer to receive full benefits or accepting a larger reduction in Social Security. And so so many had to stay in the workforce as the percentage of people over 65 in the workforce has been increasing. In many ways, Generation Jones spent their entire lives waiting in the back of the line, waiting for stability, waiting for the economy to improve, waiting for their careers to take off, waiting for retirement to arrive. But every time they reached the front of the line, the horizon kept drifting a little bit more further, a little bit more out of reach. Yet, despite the story we have uncovered in this video, when they try to tell it, they are often left with one phrase.
Chapter nine, okay, boomer. The problem with generational arguments is that it treats millions of people across decades, across all different walks of life as if they experienced the same reality, as if they all were dealt the same hand. And the boomer story and the Generation Jones story is a perfect example of this. Over half a generation got categorized in a story that was never truly theirs. And so after hearing the story of Generation Jones, I want to finish this video sharing my three takeaways as the student of this video essay.
One, most people aren't making history. They're just trying to make rent. Often times when we talk about generations, we tend to focus on the movements, the protest, and the cultural revolutions. We remember the people who changed the world for better or worse. But the truth is for every politician or every person marching on Washington, there were millions more just trying to keep the lights on. The majority of people are so wrapped up in the challenges of day-to-day life and they don't have the time or energy to participate in the moments that we all remember. Most people don't write history books. They just live through them, too.
Two, before you judge a generation, understand the world they inherited. It's very easy to look at a generation and reduce them to a catchphrase. Boomers had it easy. Millennials are lazy. Gen Z is too sensitive. But those are oversimplifications. Every generation becomes who they are because of how the world shaped them. Generation Jones didn't choose Watergate or corporate culture, but they simply adapted to the world that they were given.
And finally, history shapes people more than people shape history. This might be a controversial statement, but the more I make these video essays, the more I start to strongly believe that history puts far too much emphasis on the leaders. It's not the leader that makes the moment, but it's the moment that makes the leader. We credit Lincoln for ending slavery or Reagan for ending the Cold War or Jobs for inventing the smartphone. But behind all these so-called turning points were millions of people whose circumstances made the moment inevitable. Slavery didn't end because Lincoln was a great man. It ended because of decades of tension that made it unsustainable. The Cold War didn't end because Reagan outmaneuvered the Soviets. It ended because the Soviet system was collapsing under its own weight. The smartphone didn't exist because Steve Jobs was a genius. It existed because of decades of engineering, research, and manufacturing that made it possible. History just happens.
Thank you so much for watching. If you enjoyed this video, please give it a like. Subscribe for more. I'd love to hear your thoughts down in the comment section. And if you want to hear another very interesting story about why nobody's having kids anymore, give this video a watch next. And with that, Chico.