Generation X finds itself in a financial bind, coming of age in the recessionary 1990s, when both savings and consumption are limited, and natural resources are increasingly scarce. In fact, some Generation Xers consider themselves the Ajanitors@ of previous generations, inheriting a host of problems that must be cleaned up, such as the national debt and the Social Security system.The longevity revolution in the United States is another cause of intergenerational money conflict. Life expectancy has gone up 28 years in the United States since 1900 (Karpel 1995). This means that society will have to be able to support an unprecedented number of older persons. By the year 2030, almost 22 percent of the population is expected to be sixty-five and older. This percentage will increase to almost 25 percent by the year 2080. The longevity revolution has caused a permanent shift in the ratio of elderly to younger persons. The insecurity of the younger generation in facing their financial future has led to a decline in ethical standards in the United States. A 1994 survey conducted by Money magazine revealed that more Americans were willing to cheat about money than ever before. The survey interviewed 2,250 adults nationwide, 24 percent of whom responded that they would not speak up if a restaurant waiter undercharged them, compared to 15 percent who would not do so in 1987. Nine percent of those surveyed in 1994 claimed that if they found a wallet with $100 in it they would keep the cash, compared with four percent who said they would do so seven years ago. People between 18 and 34 years old turned out to be much less ethical than older adults. Of the senior citizens, 65 and older, surveyed only 2 percent admitted they would keep a wallet with $1000 cash in it, compared with 21 percent of the younger generation (Topolnicki 1994).One explanation for the difference in ethics between young and old could be that society has failed to transmit tradi...
