I think for luxury goods like artwork boats etc what you say is correct, but what I think doesn’t work is property prices. There’s no reason for the majority of the world to be struggling with rent given all the advancements in the world. it is human generated scarcity that doesn’t make no sense except to existing capital owners taking advantage of the rest
This! What I think most people missing is that all the money and wealth in the world is just a substitute for future consumption. There is at least billion people in this world that expect that their investment (delayed consumption) will be recouped. Those are not only wealthy capital owners, but simple people that believes in their pension funds or state provided pensions. This is the system that we live in - the real culprits are not only those in castles on top of the hill but millions of old people counting on the young to fulfill social contract that they did not sign.