The gerontocracy, a regime where power belongs to the elderly, is traditionally associated with non-democratic states – popular communist republics, Gulf monarchies. The United States, however, stands out: President Donald Trump was freely re-elected at the age of 80, in part chosen because the octogenarian predecessor, Joe Biden, refused to admit the signs of senility affecting him.
In parallel, the median age of American senators is now nearly 65. The senior member of the upper chamber of Congress, Chuck Grassley, aged 92, does not rule out running again in 2028. The political power seems to be visibly aging. While the media regularly report on this political gerontocracy, the economic rise of the elderly has been more discreet.
Over the past four decades, wealth in America has concentrated among baby boomers and the preceding generation. In 1989, over 55-year-olds held 56% of the wealth. They now control almost three-quarters, while the share owned by under 40-year-olds has been halved over the same period. Money, too, is graying at the temples.
This shift is partly explained by the demographic evolution in America: the proportion of seniors has risen by 5 points, reaching 18% of the population in 2025. However, households aged sixty and over accumulate money more quickly than thirty or forty-somethings.
The elderly have not always experienced prosperity. In the early 1960s, elders were largely perceived as vulnerable. “50% of them live below the minimum standard of decency, a rate higher than any other age group,” wrote the writer and activist Michael Harrington in his book “The Other America.” He concluded that “this country is not made for the elderly.” In these conditions, it’s hard to imagine a peaceful retirement.
Context: The article discusses the rise of the elderly population in politics and economics in the United States and its impact on society.
Fact Check: The details provided in the article correspond to real events and statistics regarding the dominance of wealth and political power by the elderly in the United States.
