Aging populations across Europe, North America, Australia, Japan, and South Korea are fundamentally altering the political economy of advanced democracies. Because older citizens vote in higher numbers than individuals aged 18 to 30, political leaders increasingly tailor national budgets to safeguard pension benefits rather than foster economic expansion. Mechanisms like the United Kingdom's triple lock policy ensure pensions continue rising consistently, isolating retirees from the wage stagnation and job cuts faced by active workers. Consequently, state spending prioritizes inflation control and retirement safety nets while diminishing fiscal capacity for family policy and long-term resea…
Key points
Retiree electoral majorities lead democratic governments to prioritize pension security a…: Retiree electoral majorities lead democratic governments to prioritize pension security and low inflation over national economic expansion.
Insulation from labor market volatility leaves older voters less inclined to remove incum…: Insulation from labor market volatility leaves older voters less inclined to remove incumbent political administrations over weak economic metrics.
Disproportionate spending on aging demographics limits public investments that generate e…: Disproportionate spending on aging demographics limits public investments that generate essential long-term productivity and economic growth.
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Q. What is the core of your research?
A. It is about understanding the relationship between advanced capitalism and democracy — in that context, a big part is looking at the political economy consequences of aging. I’ve also researched the electoral politics of radical right populism, labour market policies and inequality.
Q. You’ve coined the idea of ‘gerontonomia’ shaping advanced capitalist democracies — can you elaborate?
A. The main idea here is to think of aging in terms of its consequences on political economy — I focus on how aging changes the electoral composition and therefore impacts which age groups become more or less important in the electorates of advanced capitalist democracies. That then affects the policies and economic priorities which governments pursue.
In Europe, North America and, to some extent, Australia, Japan and South Korea, we have a really large and growing group of people who are out of the labour market and whose livelihoods are sustained by pensions. Many tend to be over 65 years in age but, in Europe, many…
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