You’re slipping into a version of the broken window fallacy here. Consumption isn’t automatically good for society just because it “creates activity.” When you eat an apple, the apple - and all the labor and resources behind it - are gone. Same with luxury goods: the more resource-intensive they are, the more real wealth they permanently use up compared with simpler alternatives.

What actually increases long-run prosperity isn’t consumption itself, but efficient use of resources and investment - choices that expand the stock of tools, knowledge, and productive capacity in the future. New wealth is created when resources are not immediately consumed, but are instead used to boost productivity.

That’s why wealthy people who don’t spend all their wealth aren’t “hoarding” in the economic sense. Their capital is usually invested - financing factories, startups, research, tools, and infrastructure that generate more output. And when they die with wealth still invested, the state captures a chunk through estate and capital-gains taxes.

A better way to think about wealth is as decision-making power over how resources are allocated - toward current consumption (including luxuries) or toward future production (investment). Capitalism tends to concentrate that decision power in the hands of those who are best at growing capital, which raises total prosperity but also increases inequality.

Consumption uses up wealth; investment grows it. People like Musk have a lot of wealth because they’ve been good at growing it. We should absolutely guard against wealth hijacking politics - but it would be shortsighted to treat their continued investment as a net negative for society.