PoliticsThursday 05.23.24

"Young people aren’t entitled; they’re entitled to be enraged”: NYU prof. Scott Galloway decries the current economy.

New York University professor Scott Galloway appeared on “The View” on Thursday, arguing that changes in generational wealth distribution are an active threat to young people’s wellbeing — and a valid cause for anger.

“I think ground zero for what ails America is that, for the first time in our nation’s history, a 30-year-old man or woman isn’t doing as well as his or her parents at the age of 30,” noted Galloway, a professor of marketing at the NYU Stern School of Business. “The average 70-year-old is 72% wealthier than they were 40 years ago; the average person under the age of 40 is 24% less wealthy.”

“The largest capital transfer And history happens every year. Young people transfer a trillion-and-a-half dollars to the wealthiest generation in history and that's seniors. Young people aren’t entitled; they’re entitled to be enraged,” Galloway continued. “We are transferring money from the young to the old — it is the least American thing we could do.”

Recount Wire