Gerontocracy in America: How the Old Are Hoarding Power and Wealth—and What to Do About It

?As Americans debate President Biden’s infirmities and President Trump’s erratic behavior, we’ve neglected the bigger problem before us: a massive transfer of power and wealth to the oldest among us, and the curtailment of the prospects of the young. In Gerontocracy in America, the historian and social critic Samuel Moyn offers a piercing diagnosis of our age divide and its consequences. Even apart from the presidency, in legislatures, businesses, and the courts, the average leader’s age has risen dramatically. The elderly predominantly fund campaigns and dominate their agendas, often with the intent to block any challenge to their status. The tax code is rigged on their behalf, as is an economy geared to sheltering financial and housing assets. The United States was founded on the promise of generational renovation but has become an increasingly febrile country of old men.

But it doesn’t need to be this way. With understanding and wit, Moyn shows how elder power can be dismantled. With strong safety nets in place, mandatory retirement ages can be established. The early transfer of assets between generations could be encouraged and young voters can be granted more voice. In such a world, the elderly themselves would be freed from power games to confront the existential opportunities of aging, while the young would find their path to starting out in life unblocked at last.