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By that broad metric, running low but positive inflation at central banks is a Ponzi scheme. A fuller definition would be that Social Security is predicated on

• pauldenton 3y ago
  It's a Ponzi scheme in that the money isn't being invested. The money isn't working and earning a return. That's why people suggest private pensions as an alternative to social security as it can put money to work. And there's skin in the game as it's not a Pension fund board member investing tens of thousands of members savings with a single decision, it's you deciding your own future and the level of risk you're willing to take on