I have run across and interesting article titled The "Me" Generation?, and opinion piece from New York Times columnist Ross Douthat regarding the "Millennial" generation and what he perceives as a lack of empathy, with studies and writing of Notre Dame sociologist Christian Smith backing this up.
Interestingly, people of this age group (of which I am a part) were noted as being apathetic about an economy based upon consumption and personal status being judged by one's consumption. In some cases it was noted that respondents were even confused when the "issue" of materialism and consumerism was brought up.
From experience, maybe Generation Y does not have enough time to care about such issues that "don't affect them". It's sad and all, but hey it's not affecting me! ...which I guess sums up the title of the opinion piece.