Yes, it's comes from "baby boom", the immediate post war increase in birthrate.
The big difference between the baby boom generation and whatever the current generation is, is that we were optimistic about the future. We had the immediate threat of nuclear war, which was a downer, but if we escaped that, we were told, and there was no reason to disbelieve, that life would continue to get better, that retiring in your 50s would be the norm in the future. etc. So of course we made the most of what we could get, as there was every belief that it was poor fare compared to what later generations would enjoy.
On the other hand, it wasn't a wonderful time if you were a woman. Serious shortage of job options, even a shortage of education options. Sexual harassment was an accepted part of every day life, in was up to you to put a stop to it, you'd be laughed at if you complained. Equal pay was still on the horizon - growing up I remember job adverts which said salary £xxxx (men) £smaller amount (women).
Difficult also if you were gay - sexual activity between gays was still illegal.
I was less aware of racial inequalities - there were no ethnic minorities in my (quite large) town, certainly none in my school
Equality for people with disabilities was not on the agenda, no-one considered they should have the same access to life as those without disabilities.