Money, Time, and Old Folks

Covid has turned the world upside-down in some strange ways in relation to age, time, and money.  Let’s start with the money.  We old folks – with our social security, pensions, savings, and Medicare – are perhaps a little better off than some.  We don’t have jobs to lose, children to feed, college loans to pay off.  We are in appreciably more danger in other ways than the  younger folks (see earlier post), but we are arguably a little more economically secure for the time being.

In relation to money, old folks have a long history of being classified as covetous, miserly.  Going back to Horace (Ars Poetica), the old man is described by his “desire for gain, miserliness, lack of energy, greediness for a longer life, quarrelsomeness, praise of good old days when he was a boy, and his condemnation of the younger generation.”  Famous examples of old misers might include the fictional characters Ebenezer Scrooge and Silas Marner.

Of course, in times when there was no provision for the elderly except perhaps the good will of one’s children (remember King Lear?), it made sense for old people to hang onto their money.  Neither do the old have the time or energy to start again.  When Benjamin Franklin admonishes a “Young Tradesmen” to “[r]emember that time is money,” one can only wonder if the implication is that the old – with little time left – are poor by definition?

Incidentally, time and money are intimately related – as was most apparent in the early Christian church’s opposition to usury. One of the Christian arguments against usury was that all time is God’s time, and that charging interest is profiting from something that belongs to God.  For many years, the term has been used only for the crime of charging exorbitant interest, but there was as time in the Christian church when no interest at all was allowed, when belief in usury was a heresy.  But where would the modern economy be without usury?

Similarly, using probability tables to predict life expectancy for annuity and insurance purposes assumed that someone was betting on one’s death, and that someone (other than God) was sure enough of when our “number would be up” to put money on it.  When life insurance came into being in the 18th century, there were many who thought that it also was a heresy, a presumption.  Only God could know when our time was up.

Here is the paradox: We older people have time, and yet we are running out of time.  Retired and quarantined, we have oodles of hours on our hands when we might not be able to count on years, or even months.  It is a strange situation.  One might consider Wendell Berry’s view that “time is neither young nor old”:

I know I am getting old and I say so,
but I don’t think of myself as an old man.
I think of myself as a young man
with unforeseen debilities. Time is neither
young nor old, but simply new, always
counting, the only apocalypse.

As we watch some young people flaunting the quarantine rules and endangering the lives around them, our lives, it seems that perhaps they think they have plenty of time.   They do not think that Covid will kill them (and statistically they are correct), and they do not think about dying much at all.  Neither did I at their age.  And yet, the elders – who are busy trying to make peace with the nearing end – see the possibility that the “truce of old age” (St. Benedict) will soon be broken, our lives will be precipitated into immediate danger.  Usually, as in war time, it is the young who are in danger, fighting for the elders and others at home.  This time we are the potential casualties.  It is a topsy-turvy world.

For more perspective on how Covid is exposing (and creating) stress between the old and young, see my post, Covid-19 and the Generational Wars. This situation is taking on a new dimension as we begin to open the schools.  Children and young adults seem to be at low risk, but how about older teachers, custodians, librarians, and bus drivers?  For a fictional take on the generational gap, you might try “Common Enemy.

 

Covid-19 and the Generational Wars

There has always been a generational divide. In our hippie days, we called it a generation gap, but it was more than that. We didn’t trust anyone over thirty. As our baby boomer generation came into adulthood, moved into jobs, then into better jobs, and finally into collecting pensions, social security, and artificial hips, our children and our children’s children started to worry about who was going to pay for all this. These economic fears were on top of the more individual problems of who was going to go stay with Mom when she had her cataract surgery and how to get Dad’s driver’s license away from him.

In some ways, this is nothing new. When Jonathan Swift wrote Gulliver’s Travels, he included the incident of the Struldbruggs, a select group of people who would never die. Their culture did not see them as a source of wisdom, but rather as an economic problem. Their society finally decided to declare them “dead” at the age of eighty, allowing heirs to inherit, taking away their right to vote, and leaving them alone to age while the world went on without them. This just as longevity was starting to increase in the Early Modern world. The younger generations first saw the “baby boomers” hold on to the limited upper-level managerial and professional positions. Then they realized that the retirement of the older generation (us) will be funded by the younger (through the Social Security system, Medicare, and other ways). The economic gerontophobia (yes, there is a word for it!) that Swift outlines is alive and well.

Then, as now, the elderly represent at least three threats. There is the threat that the old will not relinquish control and that their inability to keep pace with change and to release capital will impede progress. Then there is the seemingly contradictory threat that they will have to be supported (both economically and emotionally) in their old age. And finally the very presence of the aged is a memento mori, a threatening reminder of decay and mortality in a culture which does not want to think about these things. This unease is fueled by endemic expectations of scientifically produced and ever-increasing longevity, and juxtaposed with the hopes of the youth that technology will mean that they might, themselves, live long but never get old.

And now we have Covid-19, which is more of a threat to the old, but less of an inconvenience (we mostly don’t have jobs anyway and everyone knows we don’t go out much), and less of a threat to the young and more of an inconvenience (who mostly do have jobs, and may have young children in the house, or could still be looking for partners). I know the young can get Covid-19 and suffer greatly from it, but in Italy 95% of the deaths have been in those over 60 and 84% in those over 70. In the United States, 78% of the deaths have been in those over 65 and 92% in those over 55. Those are alarming statistics for the old, but perhaps empowering for the young.

When these younger folks were our children (or grandchildren), we gave them curfews and told them they couldn’t go to Florida on spring break. Quarantine rules must feel like déjà vu to some of them. How does this all play out? And back to our youthful distrust of anyone over 30. Are we reaping what we have sown?

I wrote an earlier post about whether the old could teach the young anything “(Teach Your Children Well?”), or whether everything had to be learned anew with every generation. Still a good question. In old England, even before Swift’s time, there was an instructional story of a man who made the decrepit old grandfather eat from a trough. One of the young children in the family starts building something, and the father asks what it is. “It’s a box for you to eat out of for when you are old like grandfather,” says the observant child. Thereafter, the old grandfather is treated better. But I am not sure that young people really believe that they are going to get old. Maybe, like our own death, it is too hard to believe. Or maybe we have all gotten too used to thinking in the short term.

Over a decade ago I wrote a novel, The Last Quartet (nod to Beethoven), about a situation that is the exact opposite of what we are facing. In a horrible epidemic, it is the old who survive and have to carry on with the world. I have posted the “Prelude” to this novel here. It is a thought experiment which might be of interest at the moment.

To start thinking about how our view of the aged has changed in the modern world, you might look at the abstract of a dissertation I wrote about the changes that started about the time that Swift invented the poor Struldbruggs.