photo from svacher on flickr.com

David Willetts, has asked the question in his book “The Pinch”, ‘Have the baby boomers thrown a party only to leave the mess for the next generation to clear up?’ And the Baby Boomer generation, it seems, did enjoy quite a party:

• Demographics were in their favour. They had relatively few dependents to support during their working life, a trend now reversed as boomers reach retirement.

• Democracy was on their side too. Their age group was far larger than previous generations, so their priorities have always had more of a voice at the ballot box.

• The welfare state has also been generous to the Baby Boomer generation. Those born between 1956 and 1961 are forecast to get from 118% of what they put into the welfare state. 

• House prices have also played a part. They were affordable enough for young boomers to get their foot on the property ladder, and then rocketed so high in the last ten years as to bar younger generations from the housing market.  

• Even the environment was on their side. The devastating impact of the consumer life-style their generation trademarked won’t be felt until after they are gone.

Are these arguments fair? Or even accurate? The Universities Secretary will be discussing the legacy of the Baby Boomers at an upcoming Intelligence2 debate, ‘The baby boomers have stolen the family silver’.