Absolute quality has probably gone up with increased efficiency for cheaper goods/tech. However because scarce things are driven by pseudo auction dynamics tha

Absolute quality has probably gone up with increased efficiency for cheaper goods/tech. However because scarce things are driven by pseudo auction dynamics that depends on wealth disparity rather than absolute cost young people quickly realize there is a ceiling. Because they know they can't break that ceiling money may as well be spent on fun "now" things. Or hail Marys like Bitcoin. Because in many ways, scarce things are the only things of "true" value. There is a parallel here to the disenfranchisement of the black community. You can live "comfortably" as long as you don't try to cross the moat. Energy that could've been spent improving quality for all is spent on digging the moat deeper.