By 
The blessings of the Great Recession for our children
Many of our parents, grandparents, and great-grandparents were heroes. Either they started in difficult economic circumstances or, more impressively, they came to the United States with nothing. They worked and worked and worked. They did it to provide a better life for their families.
You and your children are the financial beneficiaries of your hard work. Or, you could be the hero of your family lineage.
Most suburban kids are economically privileged by any standard. But, compared to the conditions of their ancestors, they are, in material terms, princes and princesses.
This wealth has come at a high price. Challenge builds character. Many children, until recent years, took financial abundance for granted. Most did not appreciate the work it took, both from their parents and those further up the family tree, to create their financial abundance.
A few years ago, I remember working with students from a nearby town in the Shoreline region of Connecticut that has a particularly wealthy population. Many of the students received new cars for their birthdays. And, the cars were some variation of Lexus, BMW, Mercedes, or a similar flavor. That was not the problem, or at least the big problem. The real problem was that the less fortunate would be referred to as having “ghetto cars.”
I needed a lot of composition to contain myself. While listening to a conversation, I didn’t say anything. If she had been able to answer calmly, she would start by asking the children how much they worked to contribute to the purchase.
For many of these children, the wonder of material abundance has magically appeared. The connection to work and financial success is simply missing. The Great Recession will shake many of our children out of that complacency.
I already see the benefits. Many students work harder in school, realize that their good grades and homework have a greater connection to life purpose, and understand the generosity of their parents who pay for tutoring and test preparation. Also, many students aren’t just assuming that college is something their parents pay for.
While I feel bad for those who have had more difficult situations, such as a parent’s unemployment, I firmly believe that the lessons they gain from the challenge will ultimately serve them well.