[datadrivenangel]

You're mostly right, but production can only be stored for so long. If a young farmer produces more food than they consume, they can't save that specific food to eat when they retire. Likewise, investing in machinery to increase production later only goes so far without further reinvestment in the form of maintenance.

[dsheets]

This time displacement of value service is exactly why the industry is financialized. Of course, the financialization creates a huge moral hazard and introduces middlemen that take more than they supply in many cases but the near universal demand for wealth preservation for old age is one of the few truly noble pursuits of finance. Now if only pension systems didn’t treat their beneficiaries as contemptible idiots who cannot be allowed to manage their own finances, the rampant corruption might stop.