Gen Y voters went mostly for President Obama on Tuesday for his social policies. But the Republicans could just have easily attracted this rising demographic with new business policies– if they had taken time to learn about Gen Y culture.
Gen Y may be the most entrepreneurial generation in a century but neither party appears to understand that. In this election neither party put forth an economic policy that bolsters economic growth through start-ups, crowd funding, local sourcing, additive manufacturing (3D printing), venture capital or scaling creativity into new creative companies that employ hundreds of people in the US. This is the stuff of an entrepreneurial capitalism, an Indie Capitalism, that Gen Y is trying to build that could replace the disastrous Finance/Shareholder Capitalism that has led to the immiseration of the middle class.
The talk now in Washington is about going over a “fiscal cliff.” We need to talk about more fundamental economic issues–How to promote economic growth through innovation and creativity. The Democrat and Republican parties need to tune more into the rising Gen Y and less into the fading Boomers.