"So much of what we take for granted today — from our meritocratic rat race to our gentrified neighborhoods to our culture of overwork, fitness training and foodie obsession — was born in the yuppie-made 1980s...."

"After the Carter and Reagan administrations loosened the regulations governing Wall Street, finance began to generate a greater share of profits than manufacturing or services. Investment banks and law firms now shaped the fates of the corporations they had once served. As America hitched its fortunes to finance, those banks and firms began to chop up, spin off, merge, offshore or otherwise squeeze short-term value out of the nation’s legacy corporations. But to do it, they needed legions of employees to handle the grunt work: the proofreading, drafting and document review that kept the takeover machinery in motion.... Once they were hired, aspiring yuppies were expected to work more hours, often on smaller and less intellectually demanding piecework. They were also given less meaningful training, all for narrower chances of promotion to partner. As the professional world was beginning to diversify, it became an increasingly miserable place to work.... The exhausting meritocratic contest that furnished them with nice apartments and private-school tuitions had real psychic costs. Between the long hours and the constant pressure for upward mobility, few yuppies actually felt triumphant. They felt burned out. Yuppies were the first class of young people to be drawn into the sweatshop of the meritocracy. Now is the time to rethink the bargain they made...."

Writes history professor Dylan Gottlieb, in "How Yuppies Changed America" (NYT).