Look at the essentials and you'll see we've actually been going backwards, ever since the 1970s:
Housing:
Now less affordable than ever. It takes more hours worked to afford any kind of shelter than ever in the last 50 years. According to an interview I once watched: in the 60s, a painter could afford a single family house and six kids and the wife didn't even need to work. today, two painters working together can barely afford shelter, even with no kids.
Cars:
MPG has not improved. Look at a corolla from the 70s vs today, it's about the same. Comfort is roughly comporable, at least since the invention of AC. It now costs more to buy a car today than in the 70s, in terms of average number of hours worked in order to afford a car.
Education has seen the greatest amount of inflation. Whereas a high school diploma could give you a great enough salary to afford a house in the 60s. Now, not even a bachelors or masters is enough to afford basic shelter for many people living in the first world.
Yes, we have a gazillion more computers, iphones, smart watches and toys to play with. We can fill our entire house with plastic now. what goood is that if you don't have a house to stay in? where will you plug in all those electronics and your massive 70" tv, when you're out on the street?
On the other hand, sport cars, helicopters, private jets, yachts and mansions have become more affordable than ever: when your net worth jumps from 100M to 200M this year alone, the 25M jet that seemed a bit pricey, now looks cheap. In the upcoming decade we're going to tackle private islands and recreational space ships.
Compared to 1970, cars get more miles per gallon, cost less, and last longer.
> Cars: MPG has not improved. Look at a corolla from the 70s vs today, it's about the same.
This is not true, MPG has meaningfully improved. From the EPA, "[sedan/wagon, car SUV, truck SUV, pickup truck, and minivan/van] are at or near record high fuel economy and record low CO2 emissions in model year 2019" [1]
New Vehicle estimated real-world fuel economy increased from ~14MPG in 1975 to 24.9MPG in 2019[1]
>It now costs more to buy a car today than in the 70s
The price of cars has risen below inflation:
The annual inflation average 1970-2021 is 3.86% [2] From 1970 to 2019, cars had an annual inflation average of 2.04%. [3]
Finally, a car today will last longer than they did in 1970. The typical car in 1970 would last until 100K miles. Today the typical car lasts more like 200K miles. [4]
In summary, cars cost less, last longer, and are cheaper than they were in 1970.
Housing: Now less affordable than ever. It takes more hours worked to afford any kind of shelter than ever in the last 50 years. According to an interview I once watched: in the 60s, a painter could afford a single family house and six kids and the wife didn't even need to work. today, two painters working together can barely afford shelter, even with no kids.
Cars: MPG has not improved. Look at a corolla from the 70s vs today, it's about the same. Comfort is roughly comporable, at least since the invention of AC. It now costs more to buy a car today than in the 70s, in terms of average number of hours worked in order to afford a car.
Education has seen the greatest amount of inflation. Whereas a high school diploma could give you a great enough salary to afford a house in the 60s. Now, not even a bachelors or masters is enough to afford basic shelter for many people living in the first world.
Yes, we have a gazillion more computers, iphones, smart watches and toys to play with. We can fill our entire house with plastic now. what goood is that if you don't have a house to stay in? where will you plug in all those electronics and your massive 70" tv, when you're out on the street?