Mr. Jones and Me: Younger Baby Boomers Swing Left

Were you more into punk than the Beatles? Were you less likely to protest the war than streak? You might be a Generation Joneser.

I think it was the 50th anniversary of Woodstock last summer that finally pushed me over the edge.

All summer long we’d been reliving the ’60s. Again. There were the boomers, reminiscing about Howdy Doody, Vietnam, the Summer of Love.

Watching all of this, I thought, well, damn. I don’t have anything in common with these people at all. Which is awkward, because I too am a baby boomer.

Or so I thought. Because then a friend of mine — born, like me, in 1958 — told me that we’re not boomers. We’re Generation Jones.

It was a term I’d never heard before, although a quick internet search revealed that yes, Generation Jones is an actual thing. It refers to the second half of the baby boom, to a group of people born roughly from 1954 to 1965.

We might be grouped with the baby boomers, but our formative experiences were profoundly different. If the zeitgeist of the boomers was optimism and revolution, the vibe of Gen Jones was cynicism and disappointment. Our formative years came in the wake of the 1973 oil shock, Watergate, the malaise of the Carter years and the Reagan recession of 1982. Above all, we resented the older boomers themselves — who we were convinced had things so much easier, and in whose shadow we’d been forced to spend our entire lives.

The fact that most people have never even heard of Generation Jones is the most Generation Jones thing about Generation Jones.

But if you identify more with punk, funk or disco than, say, Elvis, Buddy Holly or the Beatles, you’re a Joneser.

Is “Leave It to Beaver” kind of a hazy memory, while “The Brady Bunch” is crystal clear? You’re a Joneser.

Were you too young for the draft (which ended in 1973) but too old to have to register for it (starting in 1979)? Was there a time when you cared more about CB radio than Twitter? Did you wear Earth Shoes? Were you less likely to protest the war than to streak? Hello, Mr. Jones.

Older boomers may have wanted to change the world,” Richard Pérez-Peña wrote in these pages in 2014; “most of my peers just wanted to change the channel.”

The term was coined in 1999 by Jonathan Pontell, a cultural critic, who likes the double meaning of “Jones”: not only the anonymity of it, but also the sense of yearning. And in an interview last week, Mr. Pontell told me he thinks that Generation Jones may play a crucial role in the 2020 election.

Unlike older boomers, members of this generation are reliably conservative, perhaps because the traumas of the 1970s led us to distrust government. But Mr. Pontell thinks that Jonesers are now tipping to the left, for two reasons. First, Mr. Trump’s fumbling response to the Covid-19 crisis has hurt him with Jonesers, who are part of the demographic most at risk from the disease. And then there is Mr. Trump’s cruel mocking of Joe Biden’s senior moments. “There are lots of seniors out there that also have senior moments,” Mr. Pontell says. “They don’t really like the president mocking those one bit.”

Donald Trump (who is, it should be noted, an older boomer) has been a fraud on so many levels, but if there’s anything authentic about him, it’s his air of grievance. It may have been this, Mr. Pontell says, that made Jonesers vote for him in 2016. Hillary Clinton, to them, was the epitome of older baby boomer entitlement, and if Mr. Trump stood for anything, it was for the very things Gen Jones most identifies with: jealousy, resentment, self-pity.

There’s a word in Ireland, “begrudgery.” Padraig O’Morain, writing in The Irish Times, says: “Behind a lot of this begrudgery lies the unexamined and unspoken assumption that there is only so much happiness to go around. And guess what? The others have too much and I have too little.”

I turned to the feminist author Susan Faludi — a fellow Generation Joneser, born in 1959 — for more insight. “I recognize the yearning/resenting description of that cohort,” she told me. “Personally, I’ve always been in the yearning category — a modern-day Miniver Cheevy, ‘born too late’ to be in the thick of the ’60s social justice movements, which I shamelessly romanticized. As a girl, I had, God help me, a suede fringe vest and a hippie doll that came with a sign that said ‘You Turn Me On!’”

But many Jonesers feel bitterness about the 1960s, Ms. Faludi said, not nostalgia: “Researching my book ‘Stiffed,’ I met many angry baby boomer men — laid-off workers, evangelicals, militiamen — who felt they were slipping down the status ladder and blamed civil rights, antiwar, feminist and L.G.B.T. activism for their misery.”

Jonesers expected that as adults, we’d inherit the same wide-open sense of opportunity as our older brothers and sisters. But when those opportunities dried up, we became begrudgers instead — distrusting of government, nervous about change and fearful that creating opportunities for others would mean a diminishment of our own.

And so instead of changing the world, we’ve helped to create this endless mess — a result of the choices we’ve made, and in the voting booth not least.

Damn. The more I think about it, the more I think I don’t relate to Generation Jones either.

But maybe not relating is what Generation Jonesers do best.

“In a way,” Ms. Faludi asked me, “aren’t we all Generation Jonesers now, all still living in the unresolved rain shadow of the ’60s, still fighting the same issues, still shouting the same chants (‘What do we want?…’)?”

Maybe. But I’m hoping that this tumultuous, traumatic spring is finally the time Generation Jones — and the rest of the country, too — embraces the idea of transformational change. It’s been 50 years now. Couldn’t 2020, at long last, be the year we end the 1970s?

We’ll soon find out. Something’s happening here, and you don’t know what it is. Do you, Mr. Jones?

 

Enron: Making Money in the Financial World – Stock Market, Commodity Trading Scandal (2005)

Enron: The Smartest Guys in the Room is a 2005 documentary film based on the best-selling 2003 book of the same name by Fortune reporters Bethany McLean and Peter Elkind, a study of one of the largest business scandals in American history. About the book:
McLean and Elkind are credited as writers of the film alongside the director, Alex Gibney. The film examines the 2001 collapse of the Enron Corporation, which resulted in criminal trials for several of the company’s top executives; it also shows the involvement of the Enron traders in the California electricity crisis. The film features interviews with McLean and Elkind, as well as former Enron executives and employees, stock analysts, reporters and the former Governor of California Gray Davis.
The film won the Independent Spirit Award for Best Documentary Feature and was nominated for Best Documentary Feature at the 78th Academy Awards in 2006. The film begins with a profile of Kenneth Lay, who founded Enron in 1985. Two years after its founding, the company becomes embroiled in scandal after two traders begin betting on the oil markets, resulting in suspiciously consistent profits. Enron’s CEO, Louis Borget, is also discovered to be diverting company money to offshore accounts. After auditors uncover their schemes, Lay encourages them to “keep making us millions”. However, the traders are fired after it is revealed that they gambled away Enron’s reserves, nearly destroying the company. After these facts are brought to light, Lay denies having any knowledge of wrongdoing. Lay hires new CEO Jeffrey Skilling, a visionary who joins Enron on the condition that they utilize mark-to-model accounting, allowing the company to book potential profits on certain projects immediately after the deals are signed…whether or not those projects turn out to be successful. This gives Enron the ability to subjectively give the appearance of being a profitable company even if it isn’t. Skilling imposes his Darwinian worldview on Enron by establishing a review committee that grades employees and annually fires the bottom fifteen percent. This creates a highly competitive and brutal working environment.
Skilling hires lieutenants who enforce his directives inside Enron, known as the “guys with spikes.” They include J. Clifford Baxter, an intelligent but manic-depressive executive; and Lou Pai, the CEO of Enron Energy Services, who is notorious for using shareholder money to feed his obsessive habit of visiting strip clubs. Pai abruptly resigns from EES with $250 million, soon after selling his stock. Despite the amount of money Pai has made, the divisions he formerly ran lost $1 billion, a fact covered up by Enron. Pai uses his money to buy a large ranch in Colorado, becoming the second-largest landowner in the state.
With its success in the bull market brought on by the dot-com bubble, Enron seeks to beguile stock market analysts by meeting their projections. Executives push up their stock prices and then cash in their multi-million dollar options. Enron also mounts a PR campaign to portray itself as profitable and stable, even though its worldwide operations are performing poorly. Elsewhere, Enron attempts to use broadband technology to deliver movies on demand, and “trade weather” like a commodity; both initiatives fail. However, using mark-to-model accounting, Enron records non-existent profits for these ventures.
Enron’s successes continue as it became one of the few Internet-related companies to survive the dot-com bubble burst in 2000, and is named as the “most admired” corporation by Fortune magazine for the sixth year running. However, Jim Chanos, an Enron investor, and Bethany McLean, a Fortune reporter, question irregularities about the company’s financial statements and stock value. Skilling responds by calling McLean “unethical”, and accusing Fortune of publishing her reporting to counteract a positive BusinessWeek piece on Enron. Three Enron executives, including CFO Andrew Fastow, meet with McLean and her Fortune editor to explain the company’s finances. Fastow creates a network of shell companies designed solely to do business with Enron, for the ostensible dual purposes of sending Enron money and hiding its increasing debt. However, Fastow has a vested financial stake in these ventures, using them to defraud Enron of tens of millions of dollars. Fastow also takes advantage of the greed of Wall Street investment banks, pressuring them into investing in his shell entities and, in effect, conduct business deals with himself.