Join Tim Vlandas, Professor of Comparative Political Economy and Social Policy at the University of Oxford, for his presentation with the Political Economy Working Group.
This seminar explores how demographic change is reshaping the political economy of advanced democracies. Across Europe, more than one fifth of the population is now aged 65 or older, raising crucial questions about how ageing electorates influence economic policymaking and performance.
Drawing on his forthcoming book, Professor Vlandas argues that ageing democracies tend to experience economic stagnation as grey power reshapes electoral incentives. As societies grow older, voters become increasingly concerned with the protection of pensions while showing less support for social and public investments that foster long-term growth. Since retirees are less exposed to the risks of unemployment or wage stagnation, governments are punished for retrenching pensions but not for weak growth—encouraging policies that prioritise fiscal stability over expansion.
Combining extensive evidence on voter preferences, party competition, and government policy choices, Professor Vlandas shows how these dynamics collectively constrain the capacity of ageing countries to pursue growth-enhancing reforms. The presentation concludes by considering how democratic systems might rebalance political power across generations to sustain both economic vitality and social fairness.
The Political Economy Working Group seminars take place in person and online. When registering, please select either in-person or online participation via MS Teams.
At the EUI and the Robert Schuman Centre, we are dedicated to removing barriers and providing equal opportunities for everyone. Please indicate in the registration form your accessibility needs, if any. Alternatively, you can contact the logistics organiser of the event.
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