Not good, but better for society than rich people siting in a pile of cash forever? It is like vegetables. They are not good, but they are better than eating more carbs.
Cash is paper. No one cares about paper. Numbers in a bank account are numbers in a database somewhere. No one particularly cares about numbers in databases. What we care about is either investment or consumption, the use of resources. If rich people are not consuming their wealth then they are not using their resources. That means they’re available for everyone else to use because there’s only so much productive capacity in the economy and most of the time it’s almost all being used.
Investment is good for creating future wealth. Not using money rounds to investment, not at a personal level, but at a macroeconomic one.
