Money, Power, and Old Age - Jan Iwanik - Mises Daily

Money, Power, and Old Age - Jan Iwanik - Mises Daily: "Accumulation of capital, knowledge, and political connections takes decades. As a result, political power tends to rest in the hands of older people. The average age of the USSR's general secretaries was 62 years, for European monarchs it is 70, for voting Roman Catholic cardinals 73, and for US senators 62.

In the long run, changes in national retirement systems will probably reinforce democratic gerontocracies around the world. People of working age will continue being economic slaves of the pensioners. But living half of one's life as a slave and half as the master is not the same as being free."