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It does not change what I wrote. There is no time machine. What is produced now and the services brought now always are for the people living now. Now, whether society allocates less resources to some people and more to others despite being perfectly capable of producing enough for all is an entirely different question, that's a problem at any given point in time. Such as right now, today, in the by far richest country on this planet in the last four billion years. The numbers stored in computers don't force this upon us (there is no law of nature that connects the tiny electrical charges in silicon with a family not getting adequate housing, a dentist, or food despite all of those easily available, or easily producible), that is all completely man-made. "Saving for retirement" on an economic level must be one of the biggest scams in history. Unless the government stores products and services (like doctors) in warehouses to be used 50 years from now for retirees paying to get all of that produced and stored right now - and I don't think the government or anyone does any of that that - on an economy level there is no such thing as "saving for retirement". What will be needed in the future will have to be produced in the future. They also don't need "saved money" of today in the future, since it's all virtual they can and will create that on the fly anyway, just like today (money creation process). It could be useful if the original purpose was still true: When resources (work, machines) are scarce, do you use them to fulfill today's consumption dreams, or do you use them to build capacity for the future, i.e. instead of building consumer goods you build more and better machines and factories. In that case "saving" actually has a meaning. However, today we don't live in an economy that has that restriction. What is not being consumed now does not increase the work put into future productivity in any meaningful way or amounts. Well, maybe in some countries, but hardly anywhere in the West. |
So farmers should eat their seedcorn now and worry about what to sow only when it’s already the next season?