Publisher's Synopsis
"The issue of generational transfers is growing in importance. Populations are ageing, placing an increasing burden on provision of pensions, health care and other welfare services. In many nations the imbalance between a growing, older generation, supported by a shrinking younger generation, has fuelled debates about intergenerational justice. The key argument being that political and institutional developments over the last century have been to the advantage of older generations at the expense of current younger and future generations. But this only addresses half of the story, neglecting the flows of resources, through private, family channels. One key response to the growing fiscal problem of ageing societies has been to focus responsibility on self-funding and familial support. The growth of asset values, particularly housing, which are concentrated among the elderly, underpin such strategies. But this exposes new risks as potentia
