The America of the near future will look nothing like the America of the recent past.

America is in the throes of a demographic overhaul. Huge generation gaps have opened up in our political and social values, our economic well-being, our family structure, our racial and ethnic identity, our gender norms, our religious affiliation, and our technology use.

Today's Millennials--well-educated, tech savvy, underemployed twenty-somethings--are at risk of becoming the first generation in American history to have a lower standard of living than their parents. Meantime, more than 10,000 Baby...