This problem is not new, but arguably getting worse. So much capital out there, in the hands of so few people, and they have no idea how to deploy it productively. Their trillions could be used to start whole industries, build critical infrastructure, and pull millions out of joblessness. Instead, they unimaginarively loan it to the government or a bank for a negative real return.

The rich of the past built the modern world. Today’s rich seem to just sit on their wealth while inflation and missed opportunity erode all the value away.