You've probably heard some variation of the notion that Millennials and Gen Z are going to be the first generations of Americans to have lower standards of living than their parents. It's too expensive to go to college, to buy a house, to have kids—you name it, goes this line of thinking. Today's guest has good news: Younger Americans are actually doing better than Gen X was at the same stage, and they are in the same ballpark as Baby Boomers when you adjust for inflation and population.
"Millennials and Gen Z have dramatically more wealth than Gen X had at the same age, and it's growing fast!," writes Jeremy Horpedahl, a libertarian economist trained at George Mason University who teaches at the University of Central Arkansas. His work, which draws on the Census, Bureau of Labor Statistics, and other non-controversial sources, shows that young Americans are doing well and that economic mobility is the rule rather than the exception.
