Savings, pension plans, etc have flowed into the hands of rentier capitalists: hedge funds, venture capitalists backed by major financial firms, etc. The whole world economy is, to a great extent, controlled by rentier capitalists.
These rentier capitalists just destruct themselves, a hypothesis that Jan Toporowski has defended in his book "The end of finance. Capital Market inflation, financial derivatives, and pension fund capitalism".
Jan's hypotheses are interesting to those who think that financial economy is going to solve all the world's problems.
It is impossible to enjoy idling thoroughly unless one has plenty of work to do. There is no fun in doing nothing when you have nothing to do. Wasting time is merely an occupation then, and a most exhausting one. Idleness, like kisses, to be sweet must be stolen. - Jerome K. Jerome
"Nope, its not me. First, I am hardly participating in forums, because it is very hard to 'enlighten' others' mistakes in a couple of posts. Second, I wudn't have said that thing: Rentier capitalism creates fictitious wealth. Hardly do we see capitalism today, except for rentier capitalism: pension funds, 401k, mutual funds, hedge funds, etc. The latter destruct themselves."
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