I suspect that a very large percentage of millennials don't know what happened last year much less for decades or centuries historically. I would bet many of them have no idea who Marx, Lenin, Stalin, Mao, or even Castro and Chavez are.
For these people history began the day they were born or maybe just last week/yesterday. They are ahistorical in their thinking.
For many of them the idea that everybody should get to live in a huge mansion with a fleet of cars, airplanes, and other luxuries seems like a realizable goal. Just tax that evil one percent a little (or a lot) more, and utopia can be achieved for everybody. Hey, pass me that doobie.