So Time would have you believe. Here's what Wikipedia has to say about "hippie":
------------------------------------------ ... The word "hippie" was popularized by the late San Francisco Chronicle columnist Herb Caen, who is also credited as among the first to use the words "beatnik" and "yuppie". ...
Etymology
Reminiscing about late 1930s Harlem in his 1964 autobiography, Malcolm X referred to the word hippy as a term African Americans used to describe a specific type of white man who "acted more Negro than Negroes."
During the 1940s and 1950s the term hipster came into usage by the American Beat generation to describe jazz and swing music performers, and the term evolved to describe the bohemian counterculture that formed around the art of the time. ... ------------------------------------------
<http://en.wikipedia.org/wiki/Hippie>
Carl