We live in the first world and we are very lucky. We have more than enough material wealth, we belong to the richest countries in the world. During my upbringing, I was told that the reason that we are rich, is that we are a developed nation. Countries like Ghana are poor and that can be explained, because Ghana is not yet developed as fully as our country.
Recently, I wonder if it is not the other way around. Richness always brings forth development of science and art. The Italian Renaissance was also the time of greatest relative wealth. Later on, in the same country, production of art declined together with the economy.
We are developed because we are rich. Do not use development as legitimization for wealth. Development is equal to wealth. There is only wealth versus poverty.