The rationale for this piece of conventional wisdom was that the older you got, the more established you became in life, the more your estate grew, the more you owned your home, your car and whatnot. And of course, the more stuff you own, the more you want things to stay the same.
The reason it's been broken is because that path to better old days has been broken too: younger generations can't save, can't own a home, have a hard time finding a job, and are pretty much guaranteed to be worse off than their parents.
This will be the conservative parties' undoing ultimately. Unfortunately, it also fuels the rise of populism and the return of idiotic extremist ideas - both extreme left and extreme right.
Until the world blows up again, recovers, then people get rich again, conservatism goes on the rise again... Rinse, repeat.
