Comment by toomuchtodo

Wealth, in financial theory, is the present value of all expected future cash flows an individual or asset can generate over time, discounted back to today's value using a specific rate of return. It measures accumulated economic potential rather than just cash in hand.

Are there limits to future economic potential? I argue yes, it is a function of demographics, which are in structural decline. Therefore, I would agree it only becomes harder over time to chase after the current amount of total potential wealth, which will decline into the future.

Terra Incognita: The Economics of a Shrinking World [pdf] - https://news.ycombinator.com/item?id=44866621 - August 2025 (400 comments) (start at slide 31 of the pdf)