Managing Leadership^®

The lump in the snake. Years ago, an economist and demographer argued that the stock market of the latter part of the 20^th century had been reflecting the economic fortunes of the largest generation in American history as it worked its way through its life span – building families, buying houses, saving for retirement; he went on to predict that the stock market would continue to boom as this generation, now also the richest, returned its wealth to the economy in the form of consumption over its decades of retirement.

That’s one way to look at the baby-boomers: too large and influential to be ignored, coming or going.

The press has been full of the impact of the going part, in recent years, particularly with respect to the effect on the base of management talent in the country. And now it has begun.

Many are worried that the impact of this mass migration into unproductive retirement will constitute an unbearable strain on business, the economy, and governmental entitlements such as retirement and medical benefits – and this problem isn’t restricted to the US.

But, as the statisticians say, unsustainable trends generally aren’t sustained. The baby boomers are staying at work longer, or going in to semi-retirement with second careers in everything from teaching to consulting. They are motivated to do this by concerns ranging from economic need to a sense that they are far too healthy and vital to remain unproductive.

Baby boomers are nothing if not inventive. They will insist on not merely hogging the limelight, but driving the agenda, until they’re gone.

Random fact #8: I am a baby boomer.

When I was in high school I was assigned to write an essay commenting on a statement that had recently been made by a celebrity anthropologist. She seemed to be making her career by pandering to the vanguard of my generation, then in college and already protesting and condemning the failures of the WWII generation in administering the world. She argued that we were to be the first generation in history that would surpass its parents in knowledge and learning.

As stupefyingly imbecilic as that assertion is, it does suggest the towering arrogance and self-involvement of those about whom it was made. At the same time, though, it must be said that for all the childish self-infatuation that characterizes my generation, we do have some strengths.

The demographer mentioned at the beginning of this post argued that the generations in America alternate, more or less, as innovators and consolidators. Those of the WWII generation were master consolidators, perfecting and implementing the insights of their predecessors. The baby boomers then picked up the torch of innovation once again, and built whole new industries out of the relatively raw cloth they inherited.

But such creativity is generated in the midst of prodigious tumult, and it can be difficult to predict which of these our generation will be most remembered for. John Dryden, in his rendering of the story of Cleopatra and Marc Antony, puts these words into the mouth of one of Antony’s generals, describing the strengths and weaknesses of his master:

I love this man, who runs to meet his ruin;
And sure the gods, like me, are fond of him:
His virtues lie so mingled with his crimes,
As would confound their choice to punish one,
And not reward the other.

Virtues and crimes. For such giants as we have imagined ourselves to be, we certainly have proven to have feet of clay. I suppose we can only hope that our children will display greater charity in judging us than we showed our own parents.

These generations picking up the pieces we have strewn about will surpass us in learning and knowledge, of course, as has been the intent of parents and accomplishment of children throughout time. Perhaps they will make some progress in wisdom, as well.

Today’s tag goes to Skip Reardon at Be Excellent.

—

While you’re here, please do use the “Share This” icon, below, to let your friends and colleagues know about these posts – and don’t forget to remined them to subscribe. We”ll be glad to have all of you aboard!

Technorati Tags: American history, retirement, stock market, baby-boomers, management, business, economy, teaching, consulting, John Dryden, Cleopatra, Marc Antony, Skip Reardon