Prior to the 1930s, old age in America often meant poverty. But thanks to Social Security, Medicare, medical advances, and rising asset prices, over the past 90 years, older Americans have become one of the wealthiest and most politically powerful groups in the country.
In his new book, 'Gerontocracy in America,' Samuel Moyn argues that this success has created a dangerous imbalance. He says America isn't just facing oligarchy, or rule by the rich, but "Old-igarchy": a system in which wealth and power are increasingly concentrated among older generations, often at the expense of younger Americans.
Today, Derek talks with Moyn about the rise of gerontocracy in America, whether elderly power has become a problem, what reforms could rebalance the scales between generations, and whether this argument is a serious critique of American politics or simply ageist nonsense.
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Host: Derek ThompsonGuest: Samuel MoynProducer: Devon BaroldiAdditional Production Support: Ben Glicksman
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