Let's not be too harsh on the baby boomers, they were trying to create a better world for the next generation, they chose chose to do it via an unsustainable system that relies on top-down direction of the economy using inappropriate tools. Can you blame them for that? Top down worked great at things like rebuilding europe after a war (admittedly an eminently unfalsifiable task)...
True, there were minority voices clamoring that this would result in ruin, but to be fair there are still well regarded "smart" people who argue that the problem for millennials is that those people in charge just didn't do it ENOUGH.
> they were trying to create a better world for the next generation
I don't see a lot of evidence for this, except perhaps Reagan's program of deficit spending on an arms race to bankrupt the 'evil empire'. Maybe people should be forgiven for believing in the trickle-down lie once, but it's now simply a transfer of wealth scam.
Well the current neoliberal program of low or negative interest rates to stimulate economic growth and 'reinvestment' is basically trickle-down, too, just in a less direct fashion plus actively impoverishing the poor (instead of merely taking less from the rich). So it's basically still believed - just as a more obfuscated scam.
True, there were minority voices clamoring that this would result in ruin, but to be fair there are still well regarded "smart" people who argue that the problem for millennials is that those people in charge just didn't do it ENOUGH.