Over the past four decades, the U.S. economy has seen a decline in the share of young firms alongside a rise in the profit share of GDP. This paper explores how population aging contributes to these twin trends through a demand-side channel. The core hypothesis is that younger households exhibit...

Using data from 68 countries on over 8 million respondents over forty years we show union membership peaks in midlife – usually around workers’ late 40s or early 50s. In doing so we extend Blanchflower’s (2007) earlier study, incorporating a further 39 countries and another decade or so of...