We just want more. We like our bigger houses, cars with more amenities, vacations, dining out, air conditioned everything, large screen televisions, computer games and educational opportunities. College education is one thing that has gone up, not down. Average tuition at a private college was 537 hours of work in 1966. Public Universities jumped almost as much, from 133 to 260 hours over 30 years.
Education is more of an investment than a cost, though.
The money is paid back in higher earnings over the years. Consider also that many of our technology breakthroughs actually fall in price or give much more performance with each model, right before our eyes. Examples are personal computers, televisions, VCRs and just about everything else that is based on electronics. We take instant worldwide communications for granted. Our parents has no such concept.