Consider the consequences of time and ingenuity
Consider this, excerpted from the book The Rational Optimist: How Prosperity Evolves, by Matt Ridley:
[L]ooking back now . . . the middle class of 1955, luxuriating in their cars, comforts and gadgets, would today be described as ‘below the poverty line’.
. . . . .
Today, of Americans officially designated as ‘poor’, 99 per cent have electricity, running water, flush toilets, and a refrigerator; 95 percent have a television, 88 percent a telephone, 71 percent a car and 70 percent air conditioning. Cornelius Vanderbilt had none of these.