Italy and Japan have particularly bad cases of the blues; with relatively small numbers of young people and large ones of older people, the old are not only cunning and entrenched in positions of power: they can still beat the kids in elections. Politicians reinforce generational privilege rather than acting on the knowledge that, in the end, an economy that doesn’t work for the young is an economy doomed to decline.
Read the rest of Walter Russell Mead.
[HT: Instapundit.com]
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