Automatic enrolment was introduced in 2012 amid concerns that people would struggle with inadequate income in retirement.

At that point, sheet music sales began to decline while records were still providing inadequate income to compensate.

However, when housing prices were constantly increasing, borrowers with inadequate income could cover mortgage repayments by borrowing further money against increased value of their house.

Here, all taxpayers could chip in to help out working people on inadequate incomes, while boardroom wealth accumulated at an ever-faster rate.

The low productivity of agriculture leads to inadequate incomes for farmers, hunger, malnutrition and disease.