The president of the Federal Reserve Bank of Chicago raised some eyebrows when he said during a recent speech that the skyrocketing costs associated with earning a college degree may be too risky for some young people.

It feels like every single day, we hear from an endless wave of analysts, journalists, pollsters, politicians, and seemingly every family member over the age of 40 that Millennials expect everything to be handed to them. We’re told that little league participation trophies have led young Americans to completely forget the meaning and importance of competition in all things, particularly when it comes to economics and society. They tell us that Millennials are hopelessly lost to the banner of socialism given their alleged disdain for the competitive nature of the free market.