Source: Adam Smith Institute
by Tim Worstall
“Lifecycle effects in an increasingly long lived population. Back two generations average lifespan in retirement was some handful of years. Now it’s a handful of decades — meaning that rational people save more for those golden years. That rise of wealth to GDP can be described as just the natural outcome of increasing lifespans. Thus not, in fact, something that needs to be taxed away. But the larger point we want to make. Wealth and wealth inequality have huge, vast even, lifecycle effects in them. Anyone who starts talking about wealth and wealth inequality without including, discussing, those lifecycle effects can be safely ignored.” (10/09/24)
https://www.adamsmith.org/blog/why-wealth-inequality-isnt-much-of-a-thing