'Recession Babies' Will Be Boring But Sensible

Economic upheavals rear careful, dull generations

By Wesley Oliver, Newser Staff

Posted Mar 8, 2009 1:00 PM CDT

(Newser) – If history tells us anything, it’s that our modern “recession babies” will grow up to be risk-averse bores. “Today’s youngest children are being raised in the same kind of protective bubble as the Depression babies,” Kate Zernike explains in the New York Times. “They stroll in sidewalk versions of sport utility vehicles, learn to swim in UV protective full-body suits.”

But today’s high school and college students will be tomorrow’s innovators who create the infrastructures that will revive the US economy and pioneer the next digital frontier. Still, the stagnating economy will mark a return to humbler lifestyles for both groups. As one expert noted, “No one becomes mature without living through the pains and confusions of maturing experiences.”

[Images (3)]

[Quotes (2)]

Youth born during the Great Depression are called the Silent Generation, "the outwardly efficient types whose inner agonies the novel 'Revolutionary Road' would dissect," Kate Zernike says. (AP Photo/Paramount Vantage, Francois Duhamel)

"Members of the recession generation will most likely be shaped by a return to Things That Matter, a re-definition of values," Kate Zernike writes. (Shutter Stock)

« Prev« Prev | Next »Next » Slideshow

Our definition of cutting back is not nearly what it was for people in the ’30s. We’re so infinitely removed from those waste not, want not values— we’ve never really practiced them. - Robert McElvaine, history professor

With the assumptions of the past decade now popped, the older among the recession youth might feel bolder striking out in more creative directions. - Kate Zernicke, the New York Times

« Prev« Prev | Next »Next » Slideshow

To report an error on this story, notify our editors.

More Newser Stories

As Bad as the Depression? If Only

At least new industries arose in the 1930s: Leonhardt

(NEWSER) - There's never a Great Depression around when you need one, apparently. Despite its misery, "the United States economy was quietly making enormous strides during the 1930s," argues David Leonhardt in the New York Times . Americans were getting a better education—high school, back then—while industrious entrepreneurs were inventing television, mass marketing refrigerators, and improving railroads. "It would clearly be nice if we could take some comfort from this bit of history," writes Leonhardt. "If anything, though, the lesson of the 1930s may be the opposite one." More»

US Keeps Repeating Same Mistake on Economy

Paul Krugman: We have to worry about jobs, not the deficit

(NEWSER) - The US made a terrible mistake last year by not spending enough money on the economic recovery, and it's on track to repeat the error on a larger scale this year, writes Paul Krugman in the New York Times . Deficit hawks were allowed to overrule those concerned about job creation, and the results can be seen in today's sputtering recovery and lousy unemployment numbers . Now is not the time to be obsessed with "fiscal austerity," he warns. It's the same mistake policy-makers made in 1937 that prolonged the Great Depression. More»

Did Bankers Go to Jail for Causing Great Depression?

No, although a couple were charged and some were embarrassed

(NEWSER) - The government could soon prosecute a few Wall Streeters who allegedly played a role in the financial crisis, and the commission that uncovered those at fault was modeled on a similar probe after the Great Depression. So did anyone who precipitated that collapse ever go to jail? Nope, writes Brian Palmer in Slate ’s Explainer column: “The rampant speculation and eventual crash of 1929 weren't caused by fraud or illegality, but by unreasonable optimism and loose financial regulation.” More»

It's 1938 All Over Again

And World War II isn't walking through that door

(NEWSER) - The US economy has been crippled by financial crisis, and the president’s too-cautious policies have failed to stem the bleeding. More stimulus is needed, but the public has soured on spending and plans to kick Democrats out of office. Sound familiar? That was the situation in 1938, writes Paul Krugman of the New York Times . And this time, World War II’s not walking through that door to save us. More»

World Risks Repeat of '30s Double Dip

Spending cuts could send economy plummeting again

(NEWSER) - The world's top economies are all talking about tightening their belts, and in so doing risk repeating the mistakes of the 1930s, writes David Leonhardt of the New York Times . When President Roosevelt tried balancing the budget in 1936, it plunged the recovering country back into depression. But austerity enthusiasts argue the more stable modern financial system, coupled with growth from the developing world, will allow the economy to avoid a repeat performance. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

'Recession Babies' Will Be Boring But Sensible