I was going to cover last week’s last week’s report by the Institute for Fiscal Studies, on the economic circumstances of different generations, as an update to the Boomers and Busters post but then I decided it needed a piece of its own.
Youth o’ today don’t know they’re born has long been the cry of older generations as they look upon the improved livings standards and greater opportunities available to the young. That was the natural order of things. As economies improved and per capita GDP increased, people got richer and had higher livings standards compared to those in previous generations.
This chart from the IFS report shows how this process continued throughout the last century, with each generation earning more, in real terms, than the one before it.
Then in the early years of this century, the process started to falter. As the IFS comments:
Up to and including those…
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Utopia, you are standing in it! 
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