In my opinion this is a flawed conclusion. "The economy" exists to serve human needs, not the other way around. We have no shortage of wealth, we have a maldistribution of wealth. There's no inherent need for the working class to support the elderly,,,not unless they are paid handsomely enough to do so without undue burdens.

Currently the "bottom" 50% of Americans hold 2% of the wealth while the "top" 10 % hold nearly 70%. We need a tax policy that reverses decades of wealth transfer from working classes to the wealthy and lands a greater portion of wealth back in the wallets of working and elderly people. We need the economy to serve the needs of the majority of Americans, not the desires of the minority.