**Majority of Gen Z May Miss Out on American Dream, Economists Warn**
The American Dream, long synonymous with upward mobility and prosperity, is under threat, and this time it’s not just a recession or a major war that’s causing the erosion. According to some economists, the youngest generation in the US is facing a perfect storm of economic and social challenges that may prevent the majority of them from achieving this supposedly all-American ideal.
**A Lost Decade for Gen Z**
David Blanchflower, a renowned economist, paints a dire picture of the current state of affairs. Every generation has faced its own era-defining crises, but Gen Z is at a tipping point, he warns. The S&P 500 is still trading at 2007 levels, adjusted for inflation, and this “lost decade” of economic stagnation has had a disproportionate impact on young people.
**Why Affordable Education Matters**
The cost of education is one of the main culprits behind this erosion of the American Dream. Gen Z is saddled with massive student loan debt, which is stifling their ability to pursue meaningful careers and start families. It’s a self-perpetuating cycle: the more expensive higher education becomes, the less accessible it is to those who need it most. With fewer options for affordable education, young people are being priced out of the labor market and forced to accept lower-paying jobs.
**What this means**
The failure of Gen Z to achieve the American Dream will have far-reaching consequences, not just for the individuals themselves but for society as a whole. A generation that’s unable to ascend the economic ladder will be less likely to invest in their communities, less likely to start businesses, and less likely to drive innovation. As the world grapples with the challenges of climate change, inequality, and technological disruption, we can’t afford to have a generation of Americans who are stuck in a cycle of poverty and insecurity.
