How does Meyer Wolfsheim's statement "I belong to another generation" suggest differences in The Great Gatsby?

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I think Wolfsheim says this to separate himself from the attitude of the young 20-somethings. He is a generation apart and strikes me as a mobster in his 50s. In my opinion, his purpose for these words has to do with demonstrating that he doesn't allow himself to get lost in the passions of the young. Nor does he allow relationships to mean very much. It was difficult for Nick to get Wolfsheim out to the funeral or even to notice the death of one of his "partners" at the end of the novel. When we are in our teens and twenties, we are on fire about life, but by our 40s and 50s, causes and purposes in life seem to have less meaning.

If there is something worth noticing about his ethnicity, it hasn't struck me as significant in my several reads of the text.

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