The young against the young

A new essay in the Financial Times argues that the real generational conflict is not between young and old, but within the same generation. The piece begins by pointing to youth protests in Nepal against political and social privilege, noting that similar divisions are appearing across the West.

The writer dismisses the idea of “boomer vs. millennial”, saying life today is safer, more free, and healthier than in past decades. Instead, the coming divide will be among millennials themselves as they begin to inherit money and property from their parents. Some will receive large fortunes because of rising home values and smaller families, while others will inherit nothing.

This uneven transfer of wealth could create sharp tensions between peers. Two friends who start with the same opportunities may end up in very different financial worlds once one inherits a home and the other does not.

The author warns that traditional generational labels like “Gen Z” or “millennial” hide more than they explain. People do not live by those categories; they live by class, region, or circumstance. The real inequality to watch, the writer concludes, is not between generations but within them, and as wealth passes down unevenly, the refrain will echo an old song lyric: “It ain’t me, it ain’t me.”

For more information see Janan Ganesh “The young against the young,” The Financial Times, September 26, 2025.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.