@Alon @MadMadMadMadRN @ddayen (it’s interesting how much inefficient gerontocracy is a through-line in US institutions. US households tend to leverage themselves on the assumption wages don’t decline, so absent stong seniority protections, they become very precarious. in places where people leverage themselves less, can rely more on non-labor benefits, are in general more equal, maybe unions and other institutions can be less gerontocratic.)