Today’s baby boomers, now beginning to retire, lived in a fortunate time. World War II ended before they were born. The Cold War never became the feared nuclear conflagration.
They were favored by the greatest equality yet known in an industrial society. Greater access to education and advancement narrowed the gap between the elites and the masses.
Today wealth is once again rising in society’s top tiers and falling in the middle and working classes. Even wealth for the much touted “knowledge” workers tends to accumulate only for a few at the top.
Ronald Inglehart writes: “In 1965, CEO pay at the largest 350 U.S. companies was 20 times as high the pay of the average worker; in 1989, it was 58 times as high; and in 2012, it was 273 times as high.” (“Inequality and Modernization,” Foreign Affairs, January/February 2016.)
What lessons can the aging baby boomers teach? That wealth should be the only reward for a career?
Why not pride in quality products, beneficial to society, not gimmicks to make money? How about better salaries for employees? How about more contributions to schools and teachers and programs that help the less well off catch up? Drug rehabilitation and treatment for mental illness? More opportunities for the homeless to become useful citizens? Working hours more favorable to families?
Baby boomers profited from favorable times, not the least of which was the opportunity to advance if one worked hard.