On March 6, 2017, Dr. Loren Lomasky of the University of Virginia gave a lecture on the ethics and economics of inter-generational transfer programs. Professor Lomasky predicts that as people live longer, and fertility rates decline in the West, public debt will rise and existing workers will pay an increasing amount to finance transfer programs. According to the Lomasky and Brennan thesis, transfer programs are easy to pass and hard to cut because it is cheap for people to vote for such programs, even if the consequences include increased debt spending by governments and reduced economic growth and job opportunities for the young.
