A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2017; you can also visit the original URL.
The file type is
When Elders Rule: Is Gerontocracy Harmful for Growth?
Social Science Research Network
We study the relationship between gerontocracy and aggregate economic perfomance in a simple model where growth is driven by human capital accumulation and productive government spending. We show that gerontocraticélites display the tendency to underinvest in public education and productive government services and thereby may be harmful growth. In absence of intergenerational altruism, the damage caused by gerontocracy is mainly due to the lack in long-term delayed-return investment originateddoi:10.2139/ssrn.2213840 fatcat:u7ihczzribeijfqfb37oz2u25y