Historical and Empirical Evidence for the Schism in the Millennial Generation (Conclusion)

Abstract

ABSTRACT In this concluding article, the author continues to present the results of his empirical analysis based on the division of the Millennial generation into two age groups. The author devotes particular attention to a special group of “3S” Millennials (standing for “smartphones,” “social networks,” and “slowing economy”) who have come of age during the period since 2008, which has been characterized by the long decline of the Russian economy and the massive spread of new technologies and digital user services. Data from the Russian Longitudinal Monitoring Survey of the Health and Economic Welfare of the Population conducted by the National Research University Higher School of Economics (1994–2018) is used. The study shows that while Millennials are different in many ways from other generations, members of the generation also differ from each across multiple social characteristics. The second part of the article shows that younger 3S Millennials drink alcohol less often and in smaller quantities, smoke less, exercise more often, watch less TV, read more, participate more in cultural life and creative activities, are less religious, and are more optimistic regarding their financial situation and life in general. Many intergenerational and intragenerational differences remain significant even after introducing standard control variables and when neighboring generations are adjusted to a similar median age. In conclusion, four typical situations are identified that characterize the ratio of intergenerational to intragenerational differences.