In Italy is even worse. There is very little welfare state, the vast majority are transfers from the young to the old. This is the reason why at the #festinteconomia I proposed an estate tax on the boomers giornalelavoce.it/news/attualita…
www.giornalelavoce.it "I pensionati si sono presi tutto, i giovani pagano il conto": la proposta choc di Zingales,... L'economista della University of Chicago scuote il Festival dell'Economia di Torino: le nuove generazioni pagano il conto dei privilegi del passato, mentre l'intelligenza artificiale rischia di... Retirees own 60% of the wealth in Feance. Given high life expectancy, when they pass it on, wealth is not inherited by the young, but by the about to be old (those in their 50s). Read the entire thing, an excellent analysis of the pickle our societies find themselves in.View quoted post on X
