This is a bad diagnosis. Remember, the "stocks" here, are all fiction. production at time t pays for retiree consumption at time t. Likewise housing prices are

This is a bad diagnosis. Remember, the "stocks" here, are all fiction. production at time t pays for retiree consumption at time t. Likewise housing prices are a waste of time when we should all rent, and there should be a land view tax (rent-turtles all the way down). "Pay as you go" pensions scheme is good for the same reasons as LVT is good. I believe society could function with a shorter work-week so I sure as hell am not worried about needing to raise the retirement age cause people are living longer. If we need more productivity, abolish suburbia.