Does Wealth Stand For Something Else Already, or Are We Hallucinating?
In every era of human history, wealth has been a defining force, shaping societies, industries, and global economies. Yet, just as wealth creation has evolved—from agrarian societies to the industrial age to today’s digital economy—so too must our understanding of what it means to be wealthy. In light of recent global disruptions, such as technological advances, economic inequality, and environmental challenges, what if the concept of wealth already calls to be redefined?
This article explores why now might be the perfect time to rethink wealth, drawing on what history teaches us, what numbers are showing us, and what humans are doing to navigate this new landscape.
The Scream by Edvard Munch
1. Technological Disruption: Will AI Create More Wealth— or More Inequality?
The world has experienced several wealth-defining technological shifts, from the Agricultural Revolution (where land was the key to wealth) to the Industrial Revolution (which placed value on capital goods and machinery). Today, the digital revolution is transitioning wealth from physical assets to intangible ones like knowledge and intellectual property.
What History Teaches Us:
During the Industrial Revolution, new technologies like steam engines and factories fundamentally redefined wealth by shifting its basis from land to industrial capital. Similarly, today’s rise of artificial intelligence (AI) and automation is reshaping how wealth is generated, emphasizing data, innovation, and creativity.
The World Economic Forum (2020) predicts that by 2025, the global AI market will reach $190 billion, displacing 85 million jobs but creating 97 million new ones.
What Numbers Are Showing Us:
AI is reshaping industries, leading to job displacement in traditional sectors but creating opportunities in knowledge-based industries. The transition demands new frameworks for wealth creation and redistribution to ensure equitable access to the benefits of these technologies (World Economic Forum, 2020).
What Humans Are Doing:
Workers and entrepreneurs are increasingly retraining and acquiring new skills to adapt to the knowledge or ideas economy. Global initiatives focus on upskilling workforces for the digital future (McKinsey, 2021).
The Tower of Babel by Pieter Bruegel the Elder
2. Economic Inequality: A Ticking Time Bomb or an Opportunity to Redefine Wealth?
Throughout history, extreme inequality has led to social and political upheavals. The French Revolution was driven by vast wealth disparities between the aristocracy and the common people, while the Russian Revolution arose from similar conditions of concentrated wealth and widespread poverty.
What History Teaches Us:
Wealth disparity has historically led to unrest and revolution. Today’s growing inequality mirrors these conditions.
The Credit Suisse Global Wealth Report (2021) shows that the richest 1% control more than 50% of global wealth, while the bottom half owns less than 2%.
This reflects the same imbalances that triggered past societal upheavals.
What Numbers Are Showing Us:
The top 10% of wealth holders captured 68% of all new wealth generated since the pandemic, while the bottom half struggled to recover (Oxfam, 2022).
This disparity is unsustainable and has sparked increasing calls for wealth redistribution and systemic reform.
What Humans Are Doing:
Social movements such as Occupy Wall Street and protests against wealth inequality have emerged as direct responses to these widening gaps. Many policymakers are now considering progressive wealth taxes and universal basic income as potential solutions to these disparities (McKinsey, 2022).
3. Environmental Crisis: Can We Build Wealth Without Destroying the Planet?
The environmental impact of wealth accumulation has been a recurring theme throughout history. During the Industrial Revolution, rapid industrial growth caused pollution and environmental degradation, sparking the early environmental movements of the 20th century. Today, the stakes are even higher.
What History Teaches Us:
The Environmental Movement of the 1970s arose in response to unchecked industrialization, advocating for sustainability. Today, environmental degradation threatens the global economy.
The Swiss Re Institute (2021) warns that climate change could cost $23 trillion annually by 2050 if current trends continue.
These costs necessitate a rethinking of wealth that balances financial growth with ecological responsibility.
What Numbers Are Showing Us:
Sustainable investments have surged to $30.7 trillion globally (Global Sustainable Investment Alliance, 2021).
The investors are increasingly factoring environmental risks into their wealth strategies.
What Humans Are Doing:
Businesses and investors are shifting their focus toward sustainability, with a growing number of companies adopting practices that prioritize long-term environmental health alongside profitability (Global Sustainable Investment Alliance, 2021).
The Fourth Estate by Giuseppe Pellizza da Volpedo
4. Generational Shift: Will Purpose-Driven Wealth Replace Profit-Driven Models?
Much like the countercultural movements of the 1960s, today’s younger generations are questioning traditional ideas of success and wealth. The youth of the 1960s rejected materialism in favor of social justice, environmentalism, and personal freedom—values that are being revived by Millennials and Gen Z.
What History Teaches Us:
Just as the counterculture of the 1960s shifted societal values away from purely financial success, Millennials and Gen Z are driving a new redefinition of wealth that prioritizes sustainability, social responsibility, and ethical business practices.
The 2021 Deloitte survey found that 46% of Millennials and 47% of Gen Z believe businesses should prioritize societal impact over profit.
What Numbers Are Showing Us:
Younger generations are turning away from traditional wealth models and redefining wealth through the lens of purpose, social justice, and life satisfaction. The majority of Millennials prioritize meaningful work and align their spending and investments with their values (Deloitte, 2021).
What Humans Are Doing:
Millennials and Gen Z are actively investing in brands and businesses that align with their values, such as sustainability and social impact. They are also leaving jobs that do not provide a sense of purpose or align with their broader life goals (Qualtrics, 2019).
5. The Pandemic’s Aftermath: Will Resilience and Well-Being Redefine Wealth Post-COVID?
The Great Depression in the 1930s fundamentally reshaped economic policies and social safety nets, leading to the rise of Keynesian Economics and welfare programs. Similarly, the COVID-19 pandemic is catalyzing a reassessment of the relationship between wealth, work, and well-being.
What History Teaches Us:
Much like the reforms following the Great Depression, the COVID-19 pandemic has exposed systemic vulnerabilities in wealth systems focused solely on financial gain.
The pandemic triggered the “Great Resignation,” where 40% of workers globally considered quitting their jobs (Microsoft, 2021), prioritizing health and well-being over monetary success.
What Numbers Are Showing Us:
Burnout, stress, and dissatisfaction have led to mass job resignations, with 25% of Americans citing burnout as a key factor for quitting their jobs (McKinsey, 2021). These trends show that people are rethinking the purpose of work and wealth, with a stronger focus on well-being, work-life balance, and personal fulfillment.
What Humans Are Doing:
Workers across the globe are seeking new work arrangements, such as remote work and flexible hours, to improve their quality of life. This shift has sparked a broader conversation around the importance of resilience and adaptability in wealth creation.
The Vitruvian Man by Leonardo da Vinci
6. Longevity: The Era of Living Longer and Redefining Wealth
What if the future of wealth means redefining success not only by how much we accumulate but by how long we can enjoy it in good health? Imagine a world where financial portfolios aren’t just about dividends or returns but include personalized health plans and regenerative medicine funds. Could wealth in the 21st century be measured as much by healthspan—the number of years spent in good health—as by traditional financial assets? And how will multi-generational families, living longer together, reshape ideas of inheritance and legacy?
• What history teaches us:
Human lifespans have always been tied to advancements in healthcare and living conditions.
The introduction of antibiotics in the early 20th century, for example, dramatically increased life expectancy, with the average global lifespan rising from 34 years in 1913 to 48 years by the 1950s.
The impact on society was profound: extended lifespans transformed how people worked, saved, and invested, leading to the rise of retirement as a concept and reshaping industries like healthcare and insurance. Similarly, the current era of breakthroughs in biotechnology, personalized medicine, and preventive healthcare is setting the stage for another radical shift, potentially creating an entirely new chapter in wealth management.
• What the numbers are showing:
By 2050, over 2 billion people are expected to be over the age of 60, compared to just 962 million in 2017 (World Health Organization).
This is nearly a doubling of the elderly population within a few decades. To put it in context, the global median age in 1950 was 23.6 years, and by 2050 it’s expected to reach 36.2 years (United Nations). With longer lives comes the need for more resources over extended periods—healthcare, retirement funds, housing, and beyond. The economic demands of an aging population will reshape markets and industries, just as the rise of the middle class did during the post-war economic boom of the 20th century.
• What humans are doing:
As people live longer, the concept of a “career arc” is shifting. People are starting to see their working years as extending far beyond the traditional retirement age. Lifelong learning, delayed retirement, and second or even third careers are becoming the norm. Meanwhile, health is increasingly viewed as part of wealth—individuals are investing in both their financial and physical futures, with the booming market for wellness, preventive medicine, and anti-aging treatments becoming a vital part of modern wealth planning.
here’s the naked wealth koan:
If wealth is no longer just money, what has it become?
History has always shown that wealth shifts in times of disruption — but what if this time, the shift is happening in places we can’t see?
What if by 2084, you find yourself wondering: Did I lose my wealth to forces beyond my control, or did I lose it by forgetting what wealth truly is?
In an age of AI, inequality, climate crises, and longer lives, can wealth still be measured in numbers alone? Or is its essence already changing, right under our noses?
And if it is changing, how will we recognize what true wealth is?
… and, as always, while you reflect, some inspirationals:
Books to Read:
The Wealth of Humans by Ryan Avent
Explores how technology, automation, and the evolving labor market are reshaping wealth distribution and economic structures.Capital in the Twenty-First Century by Thomas Piketty
An in-depth examination of wealth inequality and its impact on the modern world, backed by centuries of data.The Second Machine Age by Erik Brynjolfsson and Andrew McAfee
Focuses on how technological advancements are transforming the economy, jobs, and wealth creation.Doughnut Economics by Kate Raworth
Introduces a fresh approach to redefining wealth and economic success by focusing on sustainability and societal well-being.Sapiens: A Brief History of Humankind by Yuval Noah Harari
A sweeping overview of human history that provides context on wealth, power, and societal evolution.The Fourth Industrial Revolution by Klaus Schwab
Discusses how technological revolutions are fundamentally altering the economy, industries, and wealth generation.
Movies to Watch:
The Founder (2016)
Chronicles the rise of McDonald’s and explores the interplay between entrepreneurship, capitalism, and wealth-building.Wall Street (1987)
A classic film that delves into greed, ambition, and the high-stakes world of finance.The Big Short (2015)
An intense look at the 2008 financial crisis, revealing the dark side of unchecked capitalism and its impact on wealth.Parasite (2019)
A powerful film about class struggles, wealth inequality, and the consequences of societal divides.The Wolf of Wall Street (2013)
Based on the rise and fall of stockbroker Jordan Belfort, this film explores excess, greed, and the financial industry’s moral challenges.Slumdog Millionaire (2008)
A story that juxtaposes extreme poverty and wealth, exploring the societal divide through the life of a quiz show contestant in India.
Podcasts to Listen:
The Indicator from Planet Money: "The Future of Work"
Explores how automation and AI are transforming jobs and the economy, aligning with your focus on technological disruption and wealth creation.Freakonomics Radio: "Is the American Dream Really Dead?"
This episode dives into wealth inequality and the fading concept of upward mobility in modern economies.The Tim Ferriss Show: "The Future of Wealth"
Tim Ferriss discusses the intersection of technology, entrepreneurship, and what wealth will look like in a fast-changing world.WorkLife with Adam Grant: "A World Without Bosses"
Investigates the concept of self-management and its implications on work and wealth dynamics.How I Built This: "Warby Parker: Neil Blumenthal & Dave Gilboa"
A fascinating entrepreneurial journey that reflects how value-driven businesses are reshaping the wealth landscape.Masters of Scale: "Reid Hoffman & Mark Zuckerberg: From Zero to Scale"
How one of the world’s biggest tech entrepreneurs built wealth from scratch, with reflections on tech disruption and future business models.