Philipp Carlsson-Szlezak is Global Chief Economist at BCG and a managing director and partner in the firm’s New York office. He also runs the Center for Macroeconomics at the BCG Henderson Institute. Prior to BCG, Carlsson-Szlezak was Chief Economist at Sanford C. Bernstein, where he covered the economy and markets for institutional investors in the global asset management industry. Earlier in his career, he spent more than 10 years advising financial institutions and governments at BCG, the Organization for Economic Co-operation and Development (OECD), and McKinsey & Company. With longtime collaborator Paul Swartz, he regularly publishes technical research for clients and is a frequent contributor to Harvard Business Review, World Economic Forum, Fortune, and other business publications. He studied at the London School of Economicsand earned a PhD from the University of Oxford.
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Episode 504
Philipp Carlsson-Szlezak
Why Younger Generations Are Convinced They Are Falling Behind | Philipp Carlsson-Szlezak
Philipp Carlsson-Szlezak is Global Chief Economist at BCG and a managing director and partner in the firm’s New York office. He also runs the Center for Macroeconomics at the BCG Henderson Institute. Prior to BCG, Carlsson-Szlezak was Chief Economist at Sanford C. Bernstein, where he covered the economy and markets for institutional investors in the global asset management industry. Earlier in his career, he spent more than 10 years advising financial institutions and governments at BCG, the Organization for Economic Co-operation and Development (OECD), and McKinsey & Company. With longtime collaborator Paul Swartz, he regularly publishes technical research for clients and is a frequent contributor to Harvard Business Review, World Economic Forum, Fortune, and other business publications. He studied at the London School of Economicsand earned a PhD from the University of Oxford.
Episode 504 of Hidden Forces is the thirteenth episode in the Hundred Year Pivot podcast series. In it, Demetri Kofinas and co-host Grant Williams speak with Philipp Carlsson-Szlezak, global chief economist at Boston Consulting Group and co-author of “The Kids Are Alright: The Timeless Angst Over Young People and Money,” about why the dominant narrative of Gen Z and Millennials falling financially behind Gen X and Boomers doesn’t hold up against the data, and how exalted expectations, flawed benchmarks, and misguided narratives have fueled record pessimism among the young.
The conversation pressure-tests Philipp’s research and probes where the data might be missing the full picture. It covers how Gen Z and Millennial incomes and balance sheets compare to prior generations, why their incomes and wealth are outpacing those of earlier cohorts at comparable ages, and why homeownership is delayed rather than denied. It also examines how consumption patterns among younger cohorts differ from the common narrative, and the role that social media, inflated expectations, and a post-financial-crisis cultural shift have played in distorting perceptions of success despite broad-based economic progress.
Demetri and Grant also dig into the narrative of the K-shaped economy and whether it holds up under scrutiny. They challenge the paper’s analysis where it may be weaker, particularly on family formation, the cost of raising children, and what is happening in the middle of the income distribution.
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Philipp Carlsson-Szlezak is Global Chief Economist at BCG and a managing director and partner in the firm’s New York office. He also runs the Center for Macroeconomics at the BCG Henderson Institute. Prior to BCG, Carlsson-Szlezak was Chief Economist at Sanford C. Bernstein, where he covered the economy and markets for institutional investors in the global asset management industry. Earlier in his career, he spent more than 10 years advising financial institutions and governments at BCG, the Organization for Economic Co-operation and Development (OECD), and McKinsey & Company. With longtime collaborator Paul Swartz, he regularly publishes technical research for clients and is a frequent contributor to Harvard Business Review, World Economic Forum, Fortune, and other business publications. He studied at the London School of Economicsand earned a PhD from the University of Oxford.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
