Redhouse, you are on target with your assessment - the "luxuries" of yeterday are common place today. I have made this argument around here before -- the "poor" of America have a wealthy living standard when compared to Americans of a couple generations ago, and this is simply because of globalization and the rapid advancement of technology.
NAFTA is despised by many, but the idea behind NAFTA was to create global market that would increase the living conditions around the globe, and thus create a larger consumer base for American products. What the American public was not told was that this was a generational proposition that goes something like this:
1. Eliminate trade tarrifs, etc, and make manufacturing around the globe cheap and easy
2. Manufacturing moves overseas (much to the chagrin of US workers)....but now foreign workers begin to make money. And yes, $50 a week is a LOT of money overseas...but not everyone makes $50 a week, becuase $90K US a year, for example...and to cut to the chase, it is working. A "middle class" (over, poverty+) class is growing in many foreign countries, and US products are a thing they are starting to want. US cars are huge in China, for example.
One of the ways we can peripherally see the success oft his strategy is the "Made In..." tag in your clothing, or on the box of what you buy. It used to always say Made In Hong Kong, then Made In Korea, China..now it's Made In...The Phillipines, Banglasesh, etc. As countries see an increase of costs - because the economy is growing and wages are moving up...they move. It is a long, long painful process, but it is happening. NAFTA is slowly lifting up the world.
3. Eventually, India, Brazil, China, etc will truly have a middle class - could take 100 years, could take 25...who knows...- and then we see a more propserous globe sharing resources, but it means there would be more incentive to build at home (we've already seen some return of manufacturing)..
....bottom line, you can't predict the future, but technology is advancing at insane rates, which, if it eventually leads to cheap energy, will change the world as we know it. But, longevity rates are also causing a new set of issues....too damned many old people can cause a problem as they suck up natural resources and give nothing in return (hmmm...Logan's Run, anyone???) But I predict that even if the US is not a overal prosperous as we are now (in relationship to the rest of the world) we will remain comfortable. Cheap technology levels the playing field and makes life easier for all is the bottom line. Genetic manipulation make food production easy and feeding the world will not be a problem (if it is even a problem now...now it's more of a distribution issue than a production issue).
I've lost my train of thought now...so I'm done...