The wealthy don&#x27;t hoarde money <i>if they can find someting better to do with it</i>.<p>There&#x27;s research suggesting a long-term secular decline in returns to business investment starting as early as the mid-1960s.  I&#x27;d turned up research from the oxymoronically named Deloitte Center for the Edge a couple of years ago, something called the Shift Index.<p>That, shifts in tax code, generally declining labour power (weaker unions), political shifts, particularly in the US, and oil&#x2F;energy price hikes and instability, as well as globalisation, all seem to have contributed.