Sure, I agree that the products in my life seem better than the products I would have had in the 70s. I am just wary of this argument because it becomes an argument for substitution (which is one way that government fudges the effect of inflation on the poor)... There are also a lot of things you aren't taking into account. In 2016, your phone costs $100 and has to be replaced every two years. Your phone in the 70s might probably still work today (I think most PBXs still support rotary). Has the improvement in quality of life tracked this increased cost?