Overlapping Generations Models of the Economy - Financial Theory - John Geanakoplos - Lecture 12 of 26 - Video-lecture

Video-lecture, Financial Theory

Description: In order for Social Security to work, people have to believe there's some possibility that the world will last forever, so that each old generation will have a young generation to support it. The overlapping generations model, invented by Allais and Samuelson but here augmented with land, represents such a situation.
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