[MCN] is the concentration of wealth a form of hoarding?

[Lance Olsen]

Google’s AI Overview
Yes, many sources describe the concentration of wealth as a form of hoarding, especially when wealth is accumulated to an extent far beyond what is needed or spent, and is then "warehoused" rather than recirculated into the economy through productive investment or job creation. This behavior is characterized by the use of tax loopholes, stock buybacks, and other strategies to accumulate and preserve wealth, which contributes to economic inequality and can limit social mobility. 
Arguments for concentration of wealth being a form of hoarding
Beyond need: The argument is that an individual with a fortune so large it exceeds their lifetime spending needs is not just holding wealth, but hoarding it because it is no longer circulating in the economy.
Lack of recirculation: When wealth is accumulated and "warehoused" in speculative assets or simply saved rather than being invested in ventures that create jobs or fund public services, it is considered by some to be a form of hoarding.
Systemic practices: Critics point to tax loopholes, profit shifting, and stock buybacks that concentrate capital and income in the hands of the excessively wealthy, which is seen as a deliberate practice to hoard wealth and not just a passive outcome.
Economic consequences: This hoarding is seen as a major driver of inequality, limiting economic mobility and exacerbating social problems like poverty and lack of access to education and healthcare. 
Counterarguments
Wealth is not static: Some argue that wealth is not "hoarded" in the traditional sense because it is put into banks and invested, meaning it is recirculated into the economy through fractional reserve lending and investment.
Economic efficiency: Another perspective is that wealth is not a fixed pie and the accumulation of capital by the wealthy is necessary for economic growth and that even wealthy individuals are participating in the economy.
The "broken window" fallacy: From this perspective, even if wealthy individuals were to literally bury their money, it would not subtract from the economy's value but rather increase the value of everyone else's savings. 
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"The academic community inadvertently made a mistake by introducing climate change using mind numbing scientific details.
To truly understand what is happening all one needs to worry about is the concentration of carbon in the atmosphere. 
Carbon in the atmosphere is the earth’s thermostat. Period."

Editorial
The Maritime Executive
We Can Fix Climate Change If We First Fix Congress
https://maritime-executive.com/editorials/we-can-fix-climate-change-if-we-first-fix-congress



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