We know that it isn't. Productivity of the workforce is ever increasing. The generated wealth simply doesn't make it to the workforce.
Some of it does - real wages in the US are higher than in the past: https://fred.stlouisfed.org/series/LES1252881600Q
Real wages have effectively flat-lined over the past 50+ years.
And I don't, by any measure, mean that all of it does, but nowadays we have luxuries we simply didn't have before, are these not fruits of that increased productivity?
Who's we?
I know I am living a privileged comfortable life, yes. I am certain many people in my chosen profession as a software dev do.
But I also know that there are alot more people struggling to provide basic necessities for their families, despite working 40+h per week. And I am not talking about cellphones here. I am talking about a roof over ones head, clothes on ones back, food on the table and medical services.