[jacobajit]

In general, savings is investment, as an identity. An economy must save in order to invest for higher future standard of living.

Short term investment goals is precisely the problem. If one invests for a return only in their lifetime (for consumption), one can't make longer-term investments that have intergenerational benefits (consider the concept of investment broadly).

Only the state would be able to do that, so you'd better hope for a good state.

[nybble41]

Only the state is capable of intergenerational investment? There are a number of long-lived, fiscally successful private organizations that would beg to differ. Not everyone is hyper-focused on short-term yields, and as I see it the average politician is no more likely to take the long view and sacrifice their own present well-being for the benefit of future generations than anyone else.