He's actually correct if you're talking strictly about the monetary framework. That we are as a society collectively richer (i.e. we have more stuff) is indispu

He's actually correct if you're talking strictly about the monetary framework. That we are as a society collectively richer (i.e. we have more stuff) is indisputable - but if you get into how the stuff is priced, and what happens to those prices over time, as more stuff is produced, and the money supply grows at the same time, it gets decidedly murky as to what prices and value even mean. His point however was not about stuff, it was about return on savings i.e. payments in money of money. That is indeed bounded.