I think what they missed is that people typically work for much longer than they are retired.
If the periods were of equal length, I think the Ponzi scheme thing would be true.
As is its sort of a modified fractionated ponzi.
If the periods were of equal length, I think the Ponzi scheme thing would be true.
As is its sort of a modified fractionated ponzi.
What do you think money is?
> you want somebody doing work
This is one reason why the robotics work going on right now is so exciting. Without the demand for elder care, it wouldn't attract as much investment or development.
Money is basically a coupon for labor. If there are no vending machines (read young workers) for labor coupons, then you won't get labor, no matter how many coupons you accumulate.
Holding money does not teleport people into the future. (= the store of value myth)
0-25 education, 25-67 work, 67-82 pension, it's almost equivalent (42 working, 40 not working)