I have read that book, too. Well, most of it (I didn't need all the details).
No generation after baby boomers have done better (nor worse). It's not a generational thing. It is a powerful people shitting on us, and us not opposing them. Not strongly enough, not as many enough, not knowing enough how to do it.
Neo-liberalism has reigned for half a century, we got to its limits, and even the rich are painfully aware there is no sense in going further; it would be worse even for them. Problem is, people in power really don't know where to go. Because the thing that are killing the economy are the unbearable inequality, the ecological collapse, and all other things neo-liberalism never considered an issue and even promoted as a good thing.