Is Life A Ponzi Scheme?

In What For?, footnote 4, I was toying with the idea that life is at least a bit like a ponzi scheme. The Wikipedia definition of a Ponzi Scheme starts with:

A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors from their own money or money paid by subsequent investors rather than from any actual profit earned...

Ponzi schemes are all the rage these days - but let's step back and consider the Ponzi scheme as a legitimate way of looking at things; that it could have benefits in other contexts.

Now consider: Over generations of society, single generations who started something typically end up profiting the next generation - or not, as the case may be. So after past generations die, they will not be able to make a 'withdrawal'. But new generations keep 'depositing'. And withdrawing, hopefully not as fast as they are depositing. It could be money, land, culture or what have you.

At the core of this cycle is a concept of a societal commons or economy of sorts. But it's almost impossible to destroy the wealth unless one consciously do so - biblioclasms and draconian copyright Law may qualify.

And the really weird question is: Who is perpetrating the fraud, if there is fraud?

Just one to kick around and play with.