>So.. how does that imply that people are worse off now than in 1970? Your entire thesis seems to be that the jealousy people will feel from seeing others have things they don't will outweigh all of the material gains of the last half century.
As an American, I don't subscribe to that thesis. At all.
What I do see (as someone in his mid 50s) is that the biggest difference is that folks back then believed (and it actually happened for many) that they would be better off than their parents.
That's no longer the case. There are a variety of reasons for this, not least of which are the systematic[0] changes to our economy that pushes wealth and resources to the top, at the expense of those at the bottom.
This didn't happen by accident, and I'm not really surprised that folks here on HN aren't focused specifically on that issue -- primarily because most of us are beneficiaries of said systematic changes.
The worst part (IMHO) is that these changes will only benefit those at the top for a limited time. Given that 70% of the US economy is consumer spending, taking purchasing power away from the vast majority of consumers is a recipe for a bad economy.
Increasing wages and safety nets makes good economic sense, as it broadens the market for consumer goods, makes it easier for folks to act in entrepreneurial ways, and in the medium to long term expands the economic pie, creating a healthier, more resilient economy.
Pushing wealth/resources to the top just doesn't do that at all. How many yachts/houses/cars/dresses/suits/pizzas/kale smoothies/etc. can one person reasonable purchase/use?
Even if you spread the money around more broadly, the wealthy will continue to be wealthy, and the rest won't have to work two or three jobs just to feed their kids boxed macaroni and cheese five times a week.
[0] https://www.merriam-webster.com/dictionary/systematic