The conventional wisdom about millennial suffering is a myth

In a deep dive this week, The Wall Street Journal complied many of the familiar grievances of America’s luckiest generation. “Playing Catch-Up in the Game of Life,” reads the headline. “Millennials Approach Middle Age in Crisis: New data show they’re in worse financial shape than every preceding living generation and may never recover.”

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Like most articles of this genre, the Journal fails to stress that most millennial tribulations—and, really, sweeping statements about any arbitrary generational grouping is a ham-fisted way to talk about people—are largely driven by the choices it makes rather than a sorry state of our politics, economy, or science, which, as I write here, favors younger people in every quantifiable way.

The WSJ article, for instance, notes that millennial households “had an average net worth of about $92,000 in 2016, nearly 40% less than Gen X households in 2001, adjusted for inflation, and about 20% less than baby boomer households in 1989.”

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