The last one and a half centuries have witnessed dramatic changes in the world economy. The service (tertiary) sector, which at the beginning of the 20th century was of little importance relative to agriculture and manufacturing, has become the dominant sector today, accounting for 80% and more...

Aging changes the political power in a democracy in favor of the older generations. With free labor mobility like that of the EU, the success of the gerontocracy is, nevertheless, limited by migration of the young generations. This connection between political voting and voting with the feet is...