Hit most by great recession and rising house prices- Upcoming challenges: population ageing and tech revolution
- Negative effects on growth, public finances, and political stability
In some respects, the current young Europeans can be thought of as lucky. They are more educated than any other generation in history, they have not experienced wars or any other major conflicts, and they can enjoy borderless travels. Medical advancements are on their side; thus they are likely to live longer than any other generation in history. Nevertheless, today’s younger generation has been facing multiple headwinds, both of a cyclical and structural sort, and is at risk of ending up poorer than their parents. The wasted potential of the young could lead to weaker growth in productivity and thus lower potential output, stagnant wages, poor public finances, and growing support for populism.
