[eternal_braid]

If a resource is practically unlimited (say air), then money doesn't play a role.

Money is a way to assign priority to the acquisition of a resource, similarly to the role of a queue. If a generation is wealthier or not compared to others, it only speaks about how we share resources in society, assuming the wealth is being consumed.

For a society to be richer overall, it doesn't need more money. It needs more resources.

[nojvek]

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.