Political Economy of Generational Politics and Aging

Dustin Voss

Social and political conflict in affluent democracies increasingly runs along generational divides. Many of the defining crises of our times, such as climate change, geopolitical instability, or housing affordability and the rising cost of living, are characterized by conflict over resources and values that divide younger and older people. Two important trends fuel intergenerational conflict in particular: First, slow economic growth and secular stagnation intensify distributional conflict over present and future resources, may delay common lifecycle milestones among young adults, and complicate equitable long-term policymaking. Second, demographic change and population aging shift the balance of political power in favor of older people while also having important implications for electoral behavior, social policy preferences, and economic policymaking. Comparative political economy, traditionally interested in class conflict, has hitherto paid only scant attention to the issue of population aging and generational politics. This research project investigates intergenerational conflict and the political and economic consequences of aging populations in comparative perspective.