It's the basic 'flaw' of Democracy: Since the majority of the people are old, they will vote in the interest of old people.
That's why the pension system will never be fixed.
> Wealth Accumulation: Older Americans hold a massive share of the nation's assets, often choosing to retain their wealth rather than pass it down early, largely due to the terrifyingly high costs of late-life healthcare.
So having good social security helps everyone. Unfortunately my country ( IN) does not prioritise that part.
Welcome to the honorable club with with Italy and Germany. What's very specific is that the old pull up the ladder. They don't pass the knowledge, nor experience, not a single cent trickles down, no power is delegated. Even the opposite, with help of immediate family they vacuum up the money and power even further.
It's the basic 'flaw' of Democracy: Since the majority of the people are old, they will vote in the interest of old people. That's why the pension system will never be fixed.
A little late no?
Economist has a global audience. The report about locally specific things are outdated as they are other countries to report about.
[delayed]
https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headline...
"We are going to call the current situation anything but class warfare."
boomers vs millenials, reds vs blues, south vs north, city folks vs country ones
Maybe a political conflicts are more complex than a guy 150 years ago thought.
https://archive.md/HKxLR
> Wealth Accumulation: Older Americans hold a massive share of the nation's assets, often choosing to retain their wealth rather than pass it down early, largely due to the terrifyingly high costs of late-life healthcare.
So having good social security helps everyone. Unfortunately my country ( IN) does not prioritise that part.
Welcome to the honorable club with with Italy and Germany. What's very specific is that the old pull up the ladder. They don't pass the knowledge, nor experience, not a single cent trickles down, no power is delegated. Even the opposite, with help of immediate family they vacuum up the money and power even further.