Absolute material wealth will increase overall with technology barring catastrophic disaster. Some things we take for granted, like easy access to water, and the booming cheap agriculture that brings, may become more scarce in the future. But the general trend of technology increasing productivity and availability of resources will continue.
But does absolute material wealth dictate how rich you are? To me, the control you have over your life and how much you need to dedicate towards working is at least as big a factor. Futurists of yesteryear told us that we’re going to be so much more productive once we start automating tasks with robotics, increasing efficiency with computers, etc. that we’d be able to work half as much and produce more.
And that actually happened. We’ve become so much more productive. We use computers to design better and cheaper products. We use automation to increase production and decrease labor requirements. We’ve gained a thousand technical ways that make us better at doing all sorts of work.
So are we working less and enjoying our lives more, due to this increased productivity? No. Are we enjoying an explosion of wealth because we’re so much more productive? Sort of, but not really. The fact that we’ve become really good at making things makes them cheaper to us, and so we can surround ourselves with greater material wealth, but we’re not really gaining a greater ability to have control over our lives. We’re working as much, or more, as we ever have, and we’re more productive than we’ve ever been, and yet our share of the fruits of our increased labor are not enjoyed by empowering or rewarding the average worker. People work long hours, women joining the workforce have increased the number dramatically, and yet in terms of how it affects our ability to own a home, go to school, pay our debts, etc. we’re worse off than we were in past decades. Yes, we have awesome 46" HDTVs instead of a 20" black and white TVs, and that is some kind of wealth, but in terms of having control of our time and our lives, we’re not doing well. Almost all of the gains in wealth brought on by this productivity are going to a very small group of people.
And I think that’s a big part of the issue in question. I think there are people who define themselves by how much better off they are than other people, not in absolute terms. They’d rather be a noble from 400 years ago than a moderately wealthy person today, even though they would obviously have more in terms of absolute wealth today, because the disparity between them and the rest of society would be that much greater then. They’d get to be better off than other people to a greater degree, and they’d have more power to push people around.
If aliens came to the planet and said “we can use our technology to raise your standard of living dramatically, give you everything you could want, you’ll never have to work again nor lack anything you need, but everyone else also gets this same treatment, is that alright?” - any rational, decent person would say “of course, that’s a win/win, why wouldn’t I want to have that, and for everyone else to have that too?” - but there are some people who would hate it. They would be elevated, and yet everyone else would be elevated equally. How do they win at life if everyone has it just as good as they do?
And those are the people who go out and become magnificently wealthy, and have a disproportionate effect on society, creating influential businesses, having greater power over workers, setting trends, controlling legislators, and otherwise stacking the deck in their own favor. The people who have real control over the way society goes are taken from those who want to define themselves by the gap between themselves and everyone else.
And so the people who have the most influence over how society works do not seek a society in which everyone is rich. Can that cycle be broken?
I suspect that if AI and robotics becomes so advanced that it creates a large class of people who simply cannot find productive work, potential collapses of society will threaten those in power enough that they buy those people off with some sort of basic guaranteed living standards. We may actually see something like a basic income within a century if automation displaces enough people that you might have crowds with torches and pitchforks coming for the super wealthy. Then, potentially, if you have control over your life, how you want to do your work, or whether you work at all, while AI and robots give us the greatest economy we’ve ever seen, where all our needs are met, then perhaps you can say that we’re all rich.
My view may be colored by the American experience. I get the impression that other places, Western and Northern Europe in particular, do not share this cultural trend to the same degree, and actually place a higher value on the quality of life of the individual. Some economies even capitalize on increased productivity by sharing it more equitably, and giving people more control over their own lives by creating a culture in which working less is the norm. But in the US, this trend is going to eventually lead to disaster.