This paper presents  initial findings from a large study of student-age post-millennials in the UK and USA  (also called 'Gen Z' or 'iGen'). It highlights a widespread 'dis-illusion' with institutions and a faltering belief in progress. In this context, strong emphasis is given to the formation of fine-grained identities, to belonging to communities of expressive affinity (online and off), and to a strong moral framework focused around respect for differences and collaborative working. The surprising role of social media will be discussed, as will implications for existing institutions. 

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