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You're right, it's not necessarily true relative to past levels of consumption. But there's a limit to economic growth, and the choice of "paygo" vs "investment
by akavi 4y ago
You're right, it's not necessarily true relative to past levels of consumption. But there's a limit to economic growth, and the choice of "paygo" vs "investment" probably only has marginal effects on the rate of economic growth, so the point stands.
"Non-producing" people are retirees (as well as children). People who don't produce market goods/services that make up the vast bulk of our material needs.