Earlier quoted context omitted.
The argument has another side, equally preposterous: That because of the increased productivity we should all be wealthy, working a few hours a day to do the "same" work, or being rewarded proportionally more (of course, inflation adjusted) for working more than that. It's preposterous because relative wages have stagnated relative to productivity boons, but oh man has standard of living increased as you say. A perso…
iPhone is irrelevant. Relevant issues are homelessness rates, affordability of healthcare or education, pensions in an old age.
And very few people had pensions back then either. The standard 401k is like a money printer compared to options back then. There certainly were times when pensions were more widespread. But I don't think if you zoom out to 50-100-200 year timelines, that healthcare, education, and retirement security are even comparable.