Has Wealth Gone Digital?

Has wealth gone digital?

Both critics and cheerleaders of capitalism claim it has. The critics see non-material wealth as a problem. Digital wealth, they say, is fictitious. It’s lost touch with reality. The cheerleaders of capitalism see the same thing as a boon. Non-material wealth, they say, will decouple the economy from physical constraints. So the economy can grow forever! Which side is right? Neither, in my opinion. Instead, both sides misunderstand the nature of wealth. Wealth is not becoming non-material. No. Wealth has always been non-material. So the digital revolution isn’t changing the nature of wealth. It’s just laying bare the facts that have always been there.