Generational stratification is not unknown to Europe. It existed for thousands of years.
I am a boomer and wealthy. I worked for my wealth. I am 78 and that wealth will soon be passed on to our children. What the hell is wrong with the Economist. Their article make the supposition this wealth will not be passed on to our children.
The Economist was once a great magazine of which I subscribed to for years as I did Scientific America. They became political and thus I dropped my rather expensive subscriptions.