Why don’t millennials like capitalism?

Sunday, 16 July 2017, 12:44:26 AM. Millennials are turning their back on capitalism, and we didn’t teach them any better.
As a society, we have done millennials a disservice. An entire generation of young people in America came of age during a decade of sluggish economic growth, and as a result, many are skeptical of free enterprise and capitalism. A stunning 2016 Harvard University survey of young adults between the ages of 18 and 29 found that 51 percent of respondents do not support capitalism. Millennial support for avowed socialist Bernie Sanders in the Democratic presidential primary was proof that young people today aren’t enamored with capitalism. During the Obama years, the 18-29 age group heard countless presidential speeches railing against the evils of “crony” capitalism. President Obama told impressionable young voters if only the rich paid more taxes, everyone would be better off. But Obama’s tax and spend policies produced a predictably stagnant economy that stifled economic opportunity for young people. The Obama agenda also attacked the notion of personal responsibility, killed on the altar of universal “rights” and the politics of victimhood. The Left preached that everyone has a “right” to free child care, free health care, a free college education and a roof over their head. And that the State will provide no matter what, so there’s no need to save, no need to work hard or pay your mortgage or student loans. This is also the first generation raised by “helicopter parents,” who did their part, however well- intentioned, to undermine personal responsibility. Too many of today’s...Read more
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