I think society hasn’t figured out the incentives for elders currently. In private settings it’s fine, but in the work context I’ve seen few incentives for >50 year olds to support younger generations. To the contrary, many of these people fear losing their job just before retirement so choose risk-averse behavior. At the same time, unlike in the village, the juniors are not their relatives so that is also not incentivizing any positive behavior.
And yes there are of course very nice people who are the exception, but from what I’ve seen they are truly the exception. As Charlie Munger put it “Well, I think I’ve been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I’ve underestimated it. And never a year passes but I get some surprise that pushes my limit a little farther.”
And yes there are of course very nice people who are the exception, but from what I’ve seen they are truly the exception. As Charlie Munger put it “Well, I think I’ve been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I’ve underestimated it. And never a year passes but I get some surprise that pushes my limit a little farther.”