I have played with this thought experiment as well and would agree that we have super computers in our pockets that replaced 20 consumer products. I would say the big one hitting home right now is food prices. They are out of control in comparison to what people are able to earn. So in the short term it is hurting a lot of people. Also the other factor people don't consider are the amount of single people. In the past it would be two people working towards a common goal. Now men and women are going in opposite directions and the world has become hyper competitive compared to the past so it places a bigger burden on each individual to survive but also to attempt to build some sort of status.