Professor Scott Galloway from the New York University Leonard N. Stern School of Business shared his insights on MSNBC’s Morning Joe, giving a bleak image of the future for young Americans, and the challenges facing them.
Galloway listed several generational disparities, stating, “For the first time in our nation’s history, a 30-year-old man or woman isn’t doing as well as his or her parents were at 30. This is the social contract breaking down.”
🚨This is a VERY important clip. I speak at more college campuses and with more college kids than perhaps anyone else in the country and what this man is saying is 100% true. Watch and have your eyes opened. pic.twitter.com/kEfhvlKYWB
— Charlie Kirk (@charliekirk11) April 24, 2024
He emphasized the troubling decline in family sizes among individuals aged 30 to 34, noting, “People aged 30 to 34, 60 percent in 1990 had one child, now it’s 27 percent.” This trend, according to Galloway, reflects a broader sense of pessimism among young Americans.
Discussing economic challenges, Galloway noted, “The pool of emotionally and economically viable men shrinks every day, which lessens household formations. We have a real issue.”
He pointed to disparities in wealth distribution, stating, “They look up, they see exceptional wealth my generation and people in certain industries, and they are really struggling. Their purchasing power is going down.”
Galloway critiqued housing and economic policies, asserting, “The incumbents create artificial scarcity on campus… We get very confirmed in housing and traffic once we own a house, housing permits are sequestered. Housing prices have gone from 290 (thousand) to 420 (thousand) in the last four years.”
Galloway emphasized the broader societal implications of this discontentment, stating, “Young people have every reason to be enraged in every issue they see. They look up and they see people doing better than then, and every day it is speedballed in their faces that they are failing, that they are not doing as well as everyone around them. We have lost the script. Our kids are more anxious, obese, depressed and addicted and we have made a purposeful decision to let this happen by ensuring that people around this table stay wealthy at the cost of young people.”
