We analyze the effect of changes in fertility and longevity on taxes, the composition of government spending, and productivity. To that purpose, we introduce politics in an OLG economy with endogenous growth due to human and physical capital accumulation. Population ageing shifts political power...

The discrepancy between taxing and spending -- The politics of taxing -- Raising taxes -- Cutting taxes -- The politics of spending -- The growth of government spending -- Reducing spending -- Deficits and the american democracy