Greed is good? Not for today's entrepreneurs... 'New yuppies' prefer self-employment and veganism over the corporate ladder and flash cars

From msn.com

When Miles MacInnes was growing up, his dad worked long hours and, dressed in his pinstripe suit, frequently travelled for business to provide for his family.

It was typical of the 1980s 'yuppie' movement, an acronym used to reflect a generation of young upwardly mobile professionals famed for their 'work hard play hard' approach.

Today, as a dad-of-two himself, Miles has taken a different approach to work - and he's not alone.

Dad-of-two Miles MacInnes prioritises a work/life balance and sustainability over large profits© Provided by This Is Money

A new report reveals how the children of the yuppies have thrown out the mantra that 'greed is good' - coined by Michael Douglas' banker Gordon Gekko in the hit film Wall Street - in favour of the idea that 'green is good'.

Young professionals are shunning corporate salaries, flash cars and sipping champagne in the City, for running their own business, vegan lunches and sustainable businesses.

A report from Mercedes-Benz Vans shows more than three quarters of children born in the 1980s identify a 'successful' business as one that is sustainable, rather than one that prioritises 'making large profits at whatever cost'.

In addition, 63 per cent said success comes from trying to make the world a better place, not rising to the top of an industry.

Miles, who runs east London wine business Jascots, said: 'My dad was a businessman in London in the 1980s. He worked long hours with frequent travelling as part of the job.

'My idea of success is very different to what drove the yuppies in the 1980s. For me, success is about finding harmony between work and family, being driven by purpose, sustainability and making a positive impact on the people you work with.'

The report reveals the yuppies' children have scaled down their ambitions. More than half of those polled have chosen to be their own boss over working at a large firm, and three quarters prioritise sustainability over large profits.

The new 'yuppies' are less like the 'greed is good' banker Gordon Gekko, played by Michael Douglas in Wall Street © Provided by This Is Money

What's clear is that this generation, having grown up in the shadow of the yuppie generation, is looking to undo some of the excesses of the 1980s. 

Over two thirds believe businesses should prioritise reducing their negative impact on the environment - no matter the cost -  and 71 per cent would like to see more businesses making sustainable switches.

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