I can't see into the future but with incomes historically rising faster than inflation, I'd say that my children will be just fine and that they will have the opportunity to pursue any lifestyle they choose.
All I have to do is look around me to clearly see and fully understand that my parents lived much better than their parents did and, that my standard of living is better than that of my parents at this same point in their lives. I have no reason not to be optimistic about the future for my children. Those who take education seriously and are motivated to achieve and create value, will always maintain an exceptional standard of living.
You never did answer my question though. If your life was on the line, what would you rather your doctor use: Knowledge and technology from 1975, or from 2005?
Probably today. But the stresses of today are much greater, with the need to have two incomes just to pay the same bills that were being paid 35 years ago, when for the most part it only took one.
I can't see into the future
But you suggested it takes two incomes today because of all of this wonderful technology since 1975. Wouldn't that also be the case in another 35 years? Or will there be no more advances in technology? Seems to me, using your logic, by 2035 two incomes won't cut it, just as one income doesn't cut it today. Obviously, using your logic, by 2035 or so, there will be a need for 3 or 4 incomes per household. As I understand it, everything keeps going up in cost, and most incomes can't compete. If they could, Mom would still be at home, raising the kids instead of working 40 hours per week.
what would you rather your doctor use: Knowledge and technology from 1975, or from 2005?
To make a point, lets put it this way. Would you rather your doctor use knowledge and technology from 2005, in 2035?