Agreed, healthcare, education, and housing -- the three most regulated and corrupt industries have grown at an accelerated rate. The are hurting people -- they are caused by unlimited loans (education), corruption/bureaucracy/regulation (healthcare), and housing (government regulation/zoning). These have nothing to do with income and production, but instead are caused by poor governing policies and regulation.

Also goods, e.g. electronics, media, communication, food, are of a higher quality than they were in the 70s -- a substantial qualitative difference that is hard to measure and compare over time.