Well said. Wealth isn't the $ amount but what it can afford.
IMO every generation is wealthier even if it has the same $ share, because quality of commodities get better over time with technology on average.
It's not always true. Technology is only valuable if it can increase abundance.
Healthcare, education and house prices seem to be doing the opposite. Ironically those are the core things that have heavy caps on supply and supply is artificially chocked, not letting the free market optimize for prices.
IMO every generation is wealthier even if it has the same $ share, because quality of commodities get better over time with technology on average.
It's not always true. Technology is only valuable if it can increase abundance.
Healthcare, education and house prices seem to be doing the opposite. Ironically those are the core things that have heavy caps on supply and supply is artificially chocked, not letting the free market optimize for prices.