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by h0nd 1946 days ago
>The last ten years have seen a massive redistribution of wealth from this age bracket into older demographics.

This has very strongly increased during that year of pandemic. In my country a vast amount of money is spent on protecting old people that future generations will be liable for.

2 comments

Essentially, shutting down the economy (well, the poor person sectors only) was also a move to protect old people at the expense of young people. The COVID IFR rate increases sharply with age.

If you don't see what's happening, then quite bluntly, you need to broaden your circles to familiarize yourself with people that aren't privileged enough to be able to continue working remotely.

The fruits of gerontocracy.
> a massive redistribution of wealth from this age bracket into older demographics

I'm not defending the current system/situation, but this seems to mischaracterize the article it links to.

Wealth wasn't redistributed, because millenials (more generally, younger generations) didn't have it to begin with. What happened was that older generations were able to - and did - capture almost all of the surplus that was generated.

I'm not saying that the author intentionally mischaracterized this. I'm saying that you can't solve a problem if you don't understand the nature of the problem. You can't solve a problem by focusing your efforts on a different problem (possibly the wrong problem, at least in this context).