Over the past 20 years, the amount of wealth has increased substansally, and almost none of the gain has gone to those at the bottom of society. Inequality is growing every year.
Access to technology is a form of wealth.
The problem with this is that human beings are limited biological creatures with a variety of wants and needs each of which is not interchangeable with the other. Having a powerful smart phone with access to the Internet no doubt give a person greater variety of stimulous, the potential for entertainment, connection with those in near and distant land and whatever else. It satisfies what we might call the desire for entertainment, creativity or whatever. But it can't be directly substituted for food, clothing, shelter or a temperature controlled environment. So the situation of a homeless person with a smart phone freezing at night is better than a middle class person in the 1950s - even if we count the homeless person as having $1 million dollars in wealth measured by 1950s standard - since hey, that smart phone is lots of "wealth".
> and almost none of the gain has gone to those at the bottom of society
which is not true, since real compensation at the bottom of society has also gone up.
[1]: https://crsreports.congress.gov/search/#/?termsToSearch=r450...
I know the UK situation much better than the US situation.