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If you imagine a typical consumption smoothing over the lifecycle scenario, unexpectedly increasing lifespans and devaluing savings will both lead to underfunded retirements.
Where the breakdown of normal relationships factors in is that the oldsters have less (or don't look to) family, church, friends, fraternal order, etc. when things get tough. Instead they just turn to the state.
Further, in a society with those thick networks of relationships, people might be less willing to fleece others politically because it's more likely that they have a connection to them.
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That's certainly an interesting thought, but age doesn't seem to be a category that people actively identify with politically. I do wonder if it has more to do with economic circumstances correlating more strongly with age than ever before... which would actually be pretty consistent with a
wtfhappenedin1971style hypothesis