I agree, we can always "go back" in time by choosing to live more simply; but we can't go forward at will. I simply could not do my job with the technology that existed 20 years ago. I can choose to drive around in a 30 year old car, but I'm glad that current medical technology exists. The economics are probably about the same for the "average" person in terms of how much of their income goes to housing, food, clothes, etc.

However, part of the difference is that we've raised our expectations significantly; how many of us really need four cars and a house that's twice the size of our childhood home? I currently pay about $300 per month just for cell phones and data plans, and another $300 for cable TV and home internet/phone service; all of which I consider a necessity. Can you imagine someone of our parents generation being willing to pay an equivalent amount just for home communications? I never took a commercial airline flight as a kid, now most of my daughters schoolmates are frequent flyers. I drove used cars in high school that my kids wouldn't be allowed to even think about getting into. We stop off and eat whenever it's more convent than eating at home; a generation ago, going out to eat in a restaurant was considered a special occasion, now it's just what you do when you didn't have time to go shopping or to cook. The examples go on indefinitely...