All systems work this way. Even systems where you do it all yourself -- invest while you work and withdraw when you retire.
A 2026 dollar and a 2046 dollar are different things. A dollar is a share claim on the productive capacity of a nation. If a nation has less productive capacity because few people had children, that dollar is worth less.
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All systems work this way. Even systems where you do it all yourself -- invest while you work and withdraw when you retire.
A 2026 dollar and a 2046 dollar are different things. A dollar is a share claim on the productive capacity of a nation. If a nation has less productive capacity because few people had children, that dollar is worth less.
The comment you are replying to doesn't concern inflation and GDP. It simply states the system is ill-planned.
That statement implies that there is a system that is better. There isn't.